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Show your employees how much you care by helping them save for retirement with a Durand State Bank SEP IRA.

Key Features

  • Competitive Interest
  • Tax Advantages*
  • No Setup or Maintenance Fees
  • 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
  • Funds are used to purchase CDs within SEP IRA
    • $5 minimum deposit to open 1-year term CD
    • $50 minimum deposit to open 2-year term (and up) CDs

*Consult a tax advisor.