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Simplified Employee Pension (SEP)

A SEP is a retirement plan ideal for self-employed individuals and small businesses.

Simplified Employee Pension

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 an SEP.

Benefits and Features

  • Earns dividends that are compounded and credited quarterly
  • Tax deductible contributions1
  • Earn tax-deferred dividends1

Rates

Rates for SEP Savings and SEP Certificates

IRA SEP Savings

Dividend Rate APY2
0.50% 0.50%

IRA SEP Certificates

Rates current as of .


Term Minimum Deposit Dividend Rate APY1
12 Months $ % %
24 Months $ % %
36 Months $ % %
60 Months $ % %

Term Minimum Deposit Dividend Rate APY1
6 Months $500 % %
$10,000 % %
$50,000 % %
12 Months $500 % %
$10,000 % %
$50,000 % %
18 Months $500 % %
$10,000 % %
$50,000 % %
24 Months $500 % %
$10,000 % %
$50,000 % %
36 Months $500 % %
$10,000 % %
$50,000 % %
48 Months $500 % %
$10,000 % %
$50,000 % %
60 Months $500 % %
$10,000 % %
$50,000 % %




Disclosures

1 Consult your tax adviser regarding potential tax benefits.

2 APY is Annual Percentage Yield. Rates are accurate as of the last dividend declaration date. Rates may change after the account is opened. Fees or other conditions could reduce the earnings on the account.

3 APY is Annual Percentage Yield. The APY is accurate as of the effective date indicated. Fees or other conditions could reduce earnings on the account. A penalty may be imposed for withdrawals before maturity.

Promotional rates are offered for a limited time.