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| Investment Services |
Simplified Employee Pension Plan (SEP)
-Retirement plan established by a corporation, partnership or sole proprietorship for contributions to an employee's IRA
-All part-time and full-time employees who meet participation requirements must receive a contribution
-Funds are deposited in the participant's IRA and are controlled by the plan participant
-The employer may contribute up to the lesser of 25% of compensation or $40,000.00 per year for each of the plan participants
-Contributions made on behalf of employee participants are a deductible expense for businesses
-Contributions for self-employed people are personal deductions
-Contributions and their earnings are not taxed until actually withdrawn by the participant
-Funds invested in SEPs are 100% vested when contributions are made
-SEP investments may be in certificates of deposit or self-directed through the discount brokerage service.
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Created on 10/17/2006 09:37 PM by webadmin
Updated on 10/17/2006 09:49 PM by webadmin
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