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Simplified Employee Pension

A Simplified Employee Pension (SEP) is a plan wherein an employer can make a contribution to each eligible employee's Traditional IRA (including his or her own Traditional IRA if self-employed). Any tax deductions apply to the employer. The tax deferred earnings apply to the employee.

SEP IRA - a Simplified Employee Pension Plan. Contributions are made by the employer and are deposited to each eligible employee's Traditional IRA. Prior to adopting a SEP plan an employer must make sure that they are eligible to do so.

Features

  • FDIC Insured
  • Many Investment Options 0-6 years
  • No Annual Fees
  • Open account with as little as $10
 

 

 

Rates

Rates depend upon the type of investment selected please refer to the rate sheet for current rates.

Process

All SEP accounts are managed by the IRA Dept. An application to participate and beneficiary designation form are required for all new plans. Please contact the IRA Dept. with any questions concerning these products.

*Customers must contact their tax advisor to determine eligibility and tax deductibility.

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