Attract top talent and boost morale all at once. Help employees save for retirement with SEP IRAs from Fahey Bank.

Key Features

Competitive Interest

Tax Advantages

Low Maintenance

Details
  • Ideal for businesses of any size or self-employed individuals
  • Gain the respect of your employees
    • Help employees reach their retirement savings goals
    • Employee always has complete ownership of all SEP IRA money
  • Earn competitive interest on entire balance
  • Contributions are tax deductible; your business pays no taxes on earnings
    • Contributions made only by the employer
    • Only self-employed may make contributions on their own behalf
  • Little to no documents to file with government
  • Inexpensive to set up and operate
  • Flexible annual contributions – good plan if cash flow is unpredictable
  • Can contribute up to 25% of each participant's annual compensation (earned income)
    • Or, up to the maximum allowable limit for current plan year, whichever is less
    • Must contribute equally for all employees
  • Employee must first establish a traditional IRA, in which the employer will deposit SEP contributions
  • $500 minimum deposit to open