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Add another reason for talented individuals to join your team. Set up a simplified employee pension (SEP) or SIMPLE IRA to provide a competitive retirement package.

With low administrative costs and the opportunity to contribute on their behalf, you can improve the lives of your employees — without sacrificing the profitability of your company. Our business banking representatives are happy to help you find the best plan for your business.

  • 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 less*
    • Must contribute equally for all employees
  • $100 minimum deposit to open

*Consult a tax advisor.

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