Simplified Employee Pension (SEP)

Simplified Employee Pension (SEP)

An SEP is a powerful tool for those who are self-employed or running a small business. In both cases, it provides the power of an IRA: saving for retirement with significant tax advantages.

First Federal makes it easy to establish an SEP. Doing so gives small businesses the ability to provide big-company benefits that are tax deductible and very easy to manage. Little effort yields big rewards...and happier employees.

Summary
  • Tax-advantaged savings for retirement
  • Available to any size business, including self-employed
  • Contribute to own retirement as well as employees
  • Contributions are tax deductible*
  • Flexible annual contribution (percentage you choose is not locked)
  • Employer must contribute equally for all eligible employees
  • Possible tax credit for opening a new SEP plan*
  • Generally, no documents to file with government
  • Very low administrative costs
  • Gain employee satisfaction with attractive retirement plan

*Consult a tax advisor.

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