If you are self-employed or own
a small business, you may find that a SEP IRA (Simplified Employee
Pension IRA) offers an easy-to-maintain way to help build retirement
savings for you and your employees. As with Traditional
IRAs, SEP IRA earnings grow tax-deferred until withdrawal at
retirement.1
Once you’ve set up a SEP plan for your business, you can open
SEP IRAs for all eligible employees, including yourself.
Benefits Your Business Will Receive
- Tax-deferred earnings on contributions1
- Contributions are tax deductible to employer2
- Helps attract and retain employees
- Easy to set up and administer
- No extra reporting to IRS is necessary
 |
 |
 |
 |
Fast
Facts 
|
 |
|
Contribution Limits2
- Employer - $41,000 or 25% of adjusted net profits, whichever is less3
- Employee - $41,000 or 25% of employee's net salary, whichever is less3
| |
|
Minimum Opening Deposit
- $100
- $25 with payroll deduction
|
|
 |
 |
 |
Contributing
to Your SEP Plan
With the SEP plan, your employees don't contribute
to their own accounts — you make deposits into each eligible employee's
SEP IRA as well as your own. Employees are eligible if they are at
least 21 years of age, have worked for you three out of the last five
years, and have earned a cumulative wage of a least $450 from you
the prior year. You may reduce these qualifications to include more
employees in your plan.
Compare
IRA Accounts
IRA
Options
In addition to our FDIC-insured retirement CDs, you may select from our other non-FDIC-insured investments.
