Is Sep Ira A Qualified Retirement Plan? 
Yes but it tends to have fewer rules and compliance issues to follow than say a 401k for those who can adopt this plan . It is an older plan design established for the self employed & small businesses . Like a Traditional IRA contributions are pre-tax as they can reduce the adjusted gross income reportable on your income tax return . As such distributions are taxable as ordinary income but not subject to payroll tax as these were paid in the reportable year the income was earned . 