We have just recently set up an IEP for my ds who has mental health problems.
We were asked to come up with 2 targets linked to the problems he had been having and the teacher also came up with a few targets herself.
We then had a meeting with ds, his teacher, dh and myself, where we looked at the targets and chose four. The teacher and ds then worked through the rest of the form together discussing how he would achieve each target and who would help him to achieve it.
It was then typed up by the school secretary and we were given a copy. They obviously have a copy at school too.
We are working with ds at home and at school to achieve these targets.
I think you should have been involved in the process, as should your dc, and you should have seen what targets you are helping them work towards.
I would ask for a meeting with their class teacher to establish whether the IEP has been set up and if so what the targets are, so that you can help your dc work towards them.
We will be asked back a month after the IEP was set up and will review the targets. They might be continued or new ones might be set, depending on ds's progress.