SEP IRAs
The "Simplified Employee Pension" Plan IRA is a retirement plan developed by an employer for the benefit of the company’s employees including owners.
- Attractive to self-employed people and small business owners
- Maximum contribution limits are significantly higher than a regular IRA
- Contributions are tax deductible to the employer
- $25 minimum to open a variable savings IRA
- $500 minimum to open a fixed rate IRA