» Choose the retirement plan that is right for you.
» 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
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