How Does A Sep Retirement Plan Work? 
A simplified employee pension program is based on an IRA . However , since it is sponsored by the employer the limit for contributions is much higher -LRB- 25 % of compensation up to $ 52,000 . -RRB- Each participant has a separate account . There is a minimum contribution for each SEP participant of $ 550 . For additional information contact a life insurance agent that specializes in retirement programs . 