Remember to activate and start using your new CapEd Mastercard Debit card. All Visa debit cards are now closed. Learn more about new Mastercard Debit and Credit cards.
Remember to activate and start using your new CapEd Mastercard Debit card. All Visa debit cards are now closed. Learn more about new Mastercard Debit and Credit cards.
Simplified Employee Pension (SEP)
Prepare yourself for retirement with an SEP which is ideal for self-employed individuals and small businesses.
Visit a CapEd location and start your retirement savings.
What is a Simplified Employee Pension (SEP)?
A SEP is a retirement plan available to all types of businesses. SEPs are easy to administer, generally less expensive to maintain, and may provide tax-deferred contributions and earnings for employees. As the employer, you may also have a tax deduction on plan contributions. You adopt a SEP plan, provide your employees information about the plan, have each eligible employee establish a traditional IRA, and decide whether to contribute/how much to contribute each year. Speak with your tax advisor to see if you are eligible for a SEP.
Benefits & Features
- Earns dividends that are compounded and credited quarterly
- Tax deductible contributions1
- Earn tax-deferred dividends1
SEP Savings
IRA SEP Savings Rates
| Account Type | Dividend Rate | APY2 |
|---|---|---|
| IRA SEP Savings | 0.50% | 0.50% |
SEP Savings
Minimum Balance to Open SEP savings account.
$0.00
Monthly Service Fee for SEP savings account.
$0.00
Minimum Age to Open for SEP savings account.
21 Years Old
SEP Certificates
Earn a higher dividend rate over time than a standard IRA SEP Savings account. Rates current as of April 1, 2024.
Promotional Certificates
Minimum Deposit for promotional certificates.
$500.00
Highest Dividend Available for promotional certificates.
4.70% APY3
Shortest Term Available for promotional certificates.
6 Months
Longest Term Available for promotional certificates.
5 Years
| Term | Minimum Deposit | Dividend Rate | APY2 |
|---|---|---|---|
| 6 Months | $500.00 | 4.62% | 4.70% |
| 12 Months | $500.00 | 4.62% | 4.70% |
| 18 Months | $500.00 | 4.43% | 4.50% |
| 24 Months | $500.00 | 4.18% | 4.25% |
| 36 Months | $500.00 | 2.97% | 3.00% |
| 48 Months | $500.00 | 3.21% | 3.25% |
| 60 Months | $500.00 | 3.70% | 3.75% |
Important Information: All promotional certificates must be opened with funds that are not currently held in a CapEd Credit Union account or that have been deposited to a CapEd Credit Union account less than 30 days.
Standard Certificates
Minimum Deposit for standard certificates.
$500.00
Highest Dividend Available for standard certificates.
0.95% APY3
Shortest Term Available for standard certificates.
6 Months
Longest Term Available for standard certificates.
5 Years
| Term | Minimum Deposit | Dividend Rate | APY2 |
|---|---|---|---|
| 6 Months | $500.00 | 0.15% | 0.15% |
| $10,000.00 | 0.25% | 0.25% | |
| $50,000.00 | 0.30% | 0.30% | |
| 12 Months | $500.00 | 0.25% | 0.25% |
| $10,000.00 | 0.35% | 0.35% | |
| $50,000.00 | 0.40% | 0.40% | |
| 18 Months | $500.00 | 0.30% | 0.30% |
| $10,000.00 | 0.40% | 0.40% | |
| $50,000.00 | 0.45% | 0.45% | |
| 24 Months | $500.00 | 0.40% | 0.40% |
| $10,000.00 | 0.50% | 0.50% | |
| $50,000.00 | 0.55% | 0.55% | |
| 36 Months | $500.00 | 0.50% | 0.50% |
| $10,000.00 | 0.60% | 0.60% | |
| $50,000.00 | 0.65% | 0.65% | |
| 48 Months | $500.00 | 0.60% | 0.60% |
| $10,000.00 | 0.70% | 0.70% | |
| $50,000.00 | 0.75% | 0.75% | |
| 60 Months | $500.00 | 0.80% | 0.80% |
| $10,000.00 | 0.90% | 0.90% | |
| $50,000.00 | 0.95% | 0.95% |
Request a Simplified Employee Pension (SEP)
Visit us at a location convient for you to inquire about opening a SEP.
LocationsResources
Tools to help you with your retirement savings goals.
Do you know how much it takes to create a secure retirement? Find out by using this calculator and determine what size your retirement nest egg should be.
Move Your Retirement Savings Without Losing Tax Benefits
View this PDF to understand the rules when moving money between your IRAs and retirement plans.
Is It Time to Cash In on Your Retirement Savings?
Be sure you understand the rules and possible tax consequences of taking IRA and retirement plan distributions with this PDF.
Understand Your Beneficiary Distribution Options
As an IRA beneficiary, you have some choices. Review them with this PDF.
Find The Right Retirement Plan For Your Business
Of the many retirement plan options available, discover which one works best for you with this PDF.
Questions?
Disclosures
1 Consult a tax professional for guidance and tax advice.
2 APY is Annual Percentage Yield. Rates are accurate as of the last dividend declaration date and may change after the account is opened. Fees or other conditions could reduce the earnings on the account.
3 APY is Annual Percentage Yield. Rates are accurate as of the effective date indicated. Fees or other conditions could reduce the earnings on the account. A penalty may be imposed for withdrawals before maturity. Promotional rates offered for a limited time.
