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SEPs

With a Simplified Employee Pension Individual Retirement Arrangement (SEP IRA) plan, only the employer makes contributions, and with this program in place, the company is required to make contributions for all eligible employees. Your employees are immediately 100% vested, so the money you contribute is theirs right away.

  • 100% employer funded
  • Contributions are tax deductible
  • Earnings grow tax deferred until you make withdrawals
  • Employers can contribute up to 25% of the employee’s pay, up to $54,000 per year
  • Employees avoid a 10% penalty on funds withdrawn on or after the age of 59 ½
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If you want your community to survive and thrive, you’ve got to support it. The VIP service we get from My Bank makes it possible for Andy and I to coach the local little league, T-ball and serve on the Frostburg City Council. First United is a hometown bank that supports hometowns… and the people who live here.

W. Robert Flanigan and Andrew J. Smith
General Partners Mountain View Estates

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