SEP IRA - King Of Pensions

The SEP IRA is a retirement plan designed to benefit self employed individuals and small business owners.

A Simplified Employee Pension Individual Retirement Account is a variation of the Individual Retirement Account used in the United States as one of a few Senior Citizen Retirement plans. Even more so than the SIMPLE IRA, the SEP-IRA is really simple. There are no administration costs if you are self-employed and have no employees. If you do have employees, all employees must receive the same benefits under a SEP plan. Since SEP accounts are treated as IRAs, funds can be invested the same way as any other IRA. Sole proprietorships, S and C corporations, partnerships and LLCs qualify.
For a detailed reading on SEPs, see IRS Pub 560.