Small businesses can help workers increase their retirement savings by contributing a percentage of the employees’ earned income to a Simplified Employee Pension (SEP)1. Employers offering SEPs cannot provide other retirement plans, except another SEP. The SEP – unlike the SIMPLE IRA – does not allow employee contributions, but an option exists for eligible workers also to contribute to Individual Retirement Annuities (IRAs).
An SEP option exists for self-employed individuals and allows contribution amounts based on how the business is set up:
Your Representative will prepare a customized plan that best meets your specific needs and budget. Get started by connecting with your Representative.
WEB70 - 4/1/2019