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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  • Employees avoid a 10% penalty on funds withdrawn on or after the age of 59 ½

“My Bank opened the door with open arms to us. They were very supportive and were excited about what our plans were and very helpful. They are there for any needs that we need. They have given us many different ideas for what they can do to help us make our business better and bigger.”

Wendy L.
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