SEP stands for "Student Education Plan." For more information, please contact the Department of Counseling at 510-436-2475.

The Special Events Permitting (SEP) process was created to assist student organizations with event planning, with the hopes to ensure safe and successful events on campus. Once the permit is completed, it is sent out to various campus departments for approval (i.e. Guest Services, Athletics, FSUPD, Environmental Health and Safety, etc.

A SEP is established by adopting a SEP agreement and having eligible employees establish SEP-IRAs. There are three basic steps in setting up a SEP, all of which must be satisfied. A formal written agreement must be executed. This written agreement may be satisfied by adopting an Internal Revenue Service (IRS) model SEP using Form 5305-SEP, Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement. A prototype SEP that was approved by the IRS may also be used.

The limits in the preceding sentence apply in the aggregate to contributions an employer makes for its employees to all defined contribution plans, which includes SEPs. Only up to $225,000 in 2007 ($230,000 in 2008 and subject to annual cost-of-living adjustments for later years) of an employee's compensation may be considered. Contributions must be made in cash. Property cannot be contributed.

A SEP can be set up for a year as late as the due date (including extensions) of the business's income tax return for that year.

No. SEPs are funded by employer contributions only. However, catch-up contributions can be made to the IRAs that hold the SEP contributions if the SEP-IRA documents allow. The catch-up IRA contribution amount (for employees age 50 and older) is $1,000 for 2006 and later years.

The employee opens a traditional IRA, to which employer contributions are deposited. Contributions are never withheld from pay or made by employees (other than the self-employed person). Contributions are not given directly to the employee, but sent to the employeeâ??s IRA custodian. The employee is immediately and fully vested.

The NUS Registrar's Office maintains a website on SEP at http://www.nus.edu.sg/registrar/undergraduate/sep.htm. Details concerning application and partner universities are available there. You may also check the Faculty's SEP website http://www.fas.nus.edu.sg/undergrad/sep.htm for more information (i.e. Tips for students going on SEP, Maximum number of credit transfer for SEP students etc...)

must be Singapore citizens or permanent residents, other nationals will be considered on a case to case basis; must have successfully completed at least 1 semester upon application and 2 semesters upon admission to the assigned Partner University; must have the financial resources for personal and living expenses for the duration of the SEP. (Financial assistance is available from the University.) Students are only allowed to embark on one overseas and local SEP.

A business owner or a self-employed individual. For more information regarding eligibility, reference IRS Publication 590 or IRS Publication 560.

SEP IRA plans are used by sole-proprietors or small business owners for additional retirement savings, much like a large company would have a 401(k) or another qualified plan.

Just like a university student, you will be living on the University of Oregon campus in the residence halls. You will live in a dorm room with a roommate, and will have a floor counselor and junior counselor assigned to your floor. There are usually from 10-15 students living on each floor.

employer can maintain both a SEP and another plan. However, unless the other plan is also a SEP, the employer cannot use Form 5305-SEP; the employer must adopt either a prototype SEP or an individually designed SEP. Yes. A SEP can be set up for a person's business even if he or she participates in another employer's retirement plan.

If a prototype plan was used, the employer should have received an amended plan from the financial institution that provided it with the plan. If for some reason the employer didn't receive a new plan document, the financial institution should be contacted. While the financial institution provides many administrative services for the plan, it is the responsibility of the employer - the plan sponsor - to ensure that the plan is kept up-to-date with current law.

Contributions for a year must be deposited by the due date (including extensions) for filing your Federal income tax return for the year. The most that may be deducted on the business's tax return for contributions to its employees' SEP-IRAs is the lesser of its contributions or 25% of compensation. (Compensation considered for each employee is limited to $225,000 in 2007, $230,000 for 2008 and subject to annual cost-of-living adjustments for later years.

Generally, the IRS has not required SEPs to be amended for new law prior to termination. Check with your plan professional.

SEPs can be terminated at any time. The employer can stop funding these plans once they are terminated.

When terminating a SEP plan, it is a good idea to notify the employees that the plan has been discontinued. The financial institution that was chosen to handle the plan may need to be notified that there will be no more contributions. The employer may also need to let the institution know that it will terminate the contract or agreement with it. The IRS should not be notified of the plan's termination.

SEP seeks to partner with exceptional, hands-on management teams that run industry-leading companies with superior growth prospects. Companies within SEP's investment parameters generally have revenue of $15 million or more and EBITDA of $4 million or more. However, SEP is also interested in developing relationships with superior companies that are on a steady path towards this level of financial performance.

Complete descriptions of our current and previous portfolio companies are available in the Portfolio section of this website.

SEP money can be withdrawn without penalty at age 59½. Earlier withdrawals are generally subject to a 10% additional income tax unless the participant becomes disabled or receives distributions in the form of an annuity that are part of substantially equal payments over life or life expectancy. For more information on Personal Finance Options, click here to send us your questions, or contact us at 1-800-946-4178.

A14: No. This is to ensure that there are fair opportunities for students who wish to go on exchange.

SEP Plan contributions made by an employer are not included in the employee's income for tax purposes, and employees pay no taxes on the amount in their SEP accounts until the funds are withdrawn.

SEP plan contributions are tax deductible. Amounts contributed remain tax-deferred, as do their earnings, until withdrawn and are taxed like Traditional IRA's on distributions, as ordinary income.

A SEP allows a self-employed person to contribute more to a retirement account than the current limits on 401(k) and IRA. For a sole-proprietor, the maximum contribution is 20% of net operating income, up to $45,000. If a small business owner allocates a specific amount of cash flow to salaries, the maximum SEP contribution is 25% of compensation, up to $45,000. There is no upper age limit on participation in a SEP.

The plan must be established and the contributions completed by the employerâ??s tax-filing due date, usually by April 15 following the tax year for which the deduction is taken.