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We know it’s not always easy to provide meaningful benefits — help your employees (and yourself) with an easy-to-manage retirement fund.

Key Features

  • Competitive Interest
  • No Monthly Fees
  • Ideal for businesses of any size or self-employed individuals
  • Gain the respect of your employees
    • Help employees reach their retirement savings goals
    • Employee always has complete ownership of all SEP IRA money
  • Earn competitive interest on entire balance
  • Contributions are tax deductible; your business pays no taxes on earnings
    • 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
  • No minimum deposit to open
  • Available to any small business – generally with 100 or fewer employees
  • Gain the respect of your employees
    • Employees have the option to make self-contributions
    • Help employees reach their retirement savings goals
    • Employee always has complete ownership of all SIMPLE IRA money
  • Earns a competitive interest rate
  • Employer must not have any other retirement plan
  • Minimal paperwork necessary; no filing requirements
  • Inexpensive to set up and operate
  • Lower contribution limits than some other retirement options
  • Employees share responsibility of growing their retirement
  • Each year, employer is required to contribute:
    • Matching contribution up to 3% of compensation, or
    • 2% nonelective contribution for each eligible employee1
  • $500 minimum deposit to open

1Consult a tax advisor.