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Employer Sponsored Retirement Plan Solution

Simplified Employee Pension Plan

A retirement plan may not be as expensive as you think! Small businesses and self employed individuals may be eligible to establish a Simplified Employee Pension (SEP) Plan.

Features & Benefits:

  • Easy to establish and operate
  • Administration costs are low.
  • Plan can have flexible annual contribution obligations.
  • Employer may be able to claim a tax credit for part of the ordinary and necessary cost of starting a SEP.
  • Contributions are made to a traditional Individual Retirement Agreement (IRAs).
  • Employees enjoy tax-deferred earnings.
  • Contributions are deductible as a business expense for the employer.

Requirements:

  • SEP plan document
  • Generally, the employer cannot have any other retirement plan(s).

The information presented here does not represent legal advice. We encourage you to discuss this issue with your tax advisor.

For additional information contact us.