SEP IRA

SEP is a Simplified Employee Pension plan. Because this is a simplified plan, the administrative costs should be lower than other more complex plans. Under a SEP, employers make contributions to traditional Individual Retirement Arrangements (IRAs) set up for employees (including self –employed individuals), subject to certain limits.

Advantages:

• Easy to set up and operate
• Administrative costs are low
• Plan can have flexible annual contribution obligations – a good plan if cash flow is an issue

Under a SEP, you, the employer, make contributions to traditional IRAs (SEP-IRAs) set up for each of your eligible employees. A SEP is funded solely by employer contributions. Each employee is always 100% vested in (or, has ownership of) all money in his or her SEP-IRA.

To watch a video about SEP and SIMPLE IRA's please click here

Please Note: The information being provided is strictly as a courtesy.  When you link to the web site provided herewith, you are leaving this site.  We make no representations as to the completeness or accuracy of the information provided at this site.  Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third party technology, sites, information and programs made available through this site.  By clicking on the link above you will leave our web site and assume total responsibility and risk for use of the site you are linking to.

Please Note: Plan distributions may be subject to tax and 10% penalty if withdrawn before age 59 1/2.  Loans are subject to interest charges and possible fees.  This will reduce the retirement benefit if not paid.

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