<human>: To being with, I apologize if this is not the appropriate subreddit. If so, please let me know asap and I'll gladly move it. I think a few could be "correct," but that the people here might be the most knowledge on this topic.

I manage a SARSEP plan at our company. This is the older SARSEP plan that's no longer available. I recently received an email from a financial advisor on behalf of one of our employees that he is setting up a new SEP plan for said employee and wants us to begin forwarding the employee's salary deferred contributions to this new plan. However, the employer match portion is still to be deposited into the plan established by our company. He also sent form 5305-SEP for me to fill out.

From the [IRS website] it does say that plans can have employees manage their own investments, but I can't tell if this just means we allow them to choose their own funds within a fund pool, if they can invest in any company/fund, or if this is an all-or-nothing kind of thing (i.e. the plan either says everyone must manage their own or everyone must go with what we choose).

The plan was established long before I began working here, and I can't find any records of our original documents. The current plan administrator is not the original one who set up the plan. I spoke to him and he's both clueless about the question and seems uninterested in finding the answer for me. The person who originally established the plan kinda fell off the edge and we haven't heard from him in several years.

Give me a shortened version of the text
<bot>: Under a SARSEP IRA plan, can employees choose the company/funds to invest in or are they restricted to the company/funds preselected by the employer?