Which statements are TRUE about SEP IRAs?

Insurance

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Which statements are TRUE about SEP IRAs?

I The plan is established by the employer

II The plan is established by each employee

III The maximum annual contribution is the same as for a Traditional or Roth IRA

IV The maximum annual contribution is significantly greater than for a Traditional or Roth IRA

A. I and III

B. I and IV

C. II and III

D. II and IV

Answer: B.

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