The Simplfied Employee Pension Plan (SEP) is an IRA option that business can make available to their employees. This retirement plan can be established by employers or self-employed business owners. The SEP is an IRA-based plan to which employers may make tax-deductible contributions on behalf of eligible employees, including the business owner. The employer is allowed a tax deduction for plan contributions, which are made to each eligible employee's traditional (SEP) IRA.
To set up a SEP or for questions about this product please contact our South Perry Street Office at 419-592-6700.