Simplified Employee Pension Plans (SEP IRAs)
Enhance your benefits package and help your employees save for retirement. This specialized account is ideal for small companies and self-employed individuals.
Set up an SEP IRA for your company and make contributions toward employees' retirement funds. Your business gets a tax deduction*, and the contribution is not considered income to the employee until it is distributed. Put yourself and your workers on the road to a prosperous future. Let us help you get started today.
Summary
- Ideal for businesses of any size or self-employed individuals
- Gain the respect of your employees
- Help employees reach their retirement savings goals
- Employee always has complete ownership of all SEP IRA money
- Earn competitive interest on entire balance
- Contributions are tax deductible; your business pays no taxes on earnings*
- Contributions made only by the employer
- Only self-employed individuals may make contributions on their own behalf
- Little to no documents to file with government
- Inexpensive to set up and operate
- Flexible annual contributions to accommodate changes in cash flow
- Can contribute up to 25% of each participant's annual compensation (earned income)
- Or, up to the maximum allowable limit for current plan year, whichever is less*
- Must contribute equally for all employees
- Employee must first establish a traditional IRA, in which the employer will deposit SEP contributions
- $500 minimum deposit to open
*Consult a tax advisor.