Simple Employee Pension Plans
WSECU offers Simple Employee Pension Plans (SEPs) for small businesses and those who are self-employed. Here is an overview of how a SEP works:
- Allows small business employers to contribute to their employees’ retirement.1
- Allows those who are self-employed to contribute to their own retirement.
- Contributions are made directly to an Individual Retirement Account (called a SEP-IRA) that is set up for each employee.1
- There is maximum contribution limit allowed with specified tax advantages.
- For detailed SEP information, visit the IRS website and type in IRS Pub 560 in the search link.
Looking for information about traditional or Roth IRAs? Click here.
1 Employee must be a WSECU member and have an established WSECU IRA.