Simplified Employee Pension Plan (SEP)

Show employees how much you appreciate their hard work by helping them save for retirement

Key Features

  • Competitive Interest
  • Tax Advantages1
  • Ideal for businesses of any size or self-employed individuals
  • Employee always has complete ownership of all SEP IRA money
  • Competitive interest on entire balance
  • Contributions are tax deductible; your business pays no taxes on earnings1
    • Contributions made only by the employer
    • Only self-employed may make contributions on their own behalf
  • Little to no documents to file with government
  • Inexpensive to set up and operate
  • Flexible annual contributions – good plan if cash flow is unpredictable
  • 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 less1
    • Must contribute equally for all employees
  • Employee must first establish a traditional IRA, in which the employer will deposit SEP contributions
  • $250 minimum deposit to open

Learn More

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1Consult your tax advisor regarding your individual circumstances.