» Simplified Employer Plan (SEP)

   • Employer, make contributions to traditional IRAs (SEP-IRAs) set up for
     each eligible employe.  

   • Funded solely by employer contributions 

   • Employee has 100% ownership of all money in his/her SEP-IRA.
   • No fee to open
   • Various investment options with competitive rates and terms
   • Investment options include CDs with fixed terms
   • Previous year contributions accepted until April 15
   • Can have flexible annual contributions
   • Beneficiary options
   • FDIC insured

Requirements:
   • Only $500 to open a SEP

Savings Incentive Match Plan for Employees (SIMPLE)

   • Ideal start-up retirement savings for small employers who don't sponsor a retirement plan
   • Employees and employers make contributions to traditional IRAs set up for employees
     (including the self-employed)

   • Employee has 100% ownership of all money in his/her SIMPLE IRA
   • No fee to open
   • Various investment options with competitive rates and terms
   • Investment options include CDs with fixed terms
   • Previous year contributions accepted until April 15
   • Can have flexible annual contributions
   • Beneficiary options
   • FDIC insured

Requirements:
   • Only $500 to open a SIMPLE