Simplified Employee Pension (SEP)
A SEP is a retirement plan ideal for self-employed individuals and small businesses.
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 |
|---|---|---|---|
| 5 Months | $ | % | % |
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.
| 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 | % | % |
Resources
Here are some reading materials that may help you answer further questions.