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Flexible
Retirement Plans!
Kennett National Bank offers
flexible retirement plans
for self-employed
and small business owners.
»
Choose the plan that is
right for you.
»
Simplified Employer Plan
(SEP)
Build A
Retirement Nest Egg
A SEP retirement plan lets
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 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)
Build A
Retirement Nest Egg
A SIMPLE retirement plan
lets employees and employers
make contributions to traditional
IRAs set up for employees
(including the self-employed).
Each employee has 100% ownership
of all money in his/her
SIMPLE IRA. It is an ideal
start-up retirement savings
plan for small employers
who don't sponsor a retirement
plan.
• 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
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