A Simplified Employee Pension is a useful tool that a small business owner can use to provide retirement benefits for employees. A SEP essentially works like an individual retirement account, only it’s easier to administer and requires no minimum contribution.

Several Web sites provide a wealth of information on how a Simplified Employee Pension works. Here are a few good places where you can find the basics:

401kHelpCenter.com

www.401khelpcenter.com/SEPplans.html

Discusses how a SEP plan works.

InvestorGuide.com

www.investorguide.com/iguretirepension.html

Contains brief details on SEP contributions.

Quicken.com

www.quicken.com/cms/viewers/article/retirement/5671

Offers concise overview of a SEP-IRA plan.

U.S. Chamber of Commerce

www.uschamber.chamberbiz.com (search for SEP)

Explains who should set up a SEP.