If a company has a Simplified Employee Pension plan (SEP), what type of plan is it?

Insurance

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If a company has a Simplified Employee Pension plan (SEP), what type of plan is it?

A) The same as a 401(k) plan.

B) An undefined contribution plan for a large business.

C) The same as a 403(b) plan.

D) A defined contribution plan for a small business.

Answer: D) A defined contribution plan for a small business.

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