Simplified Employee Pensions (SEP)

Simplified employee pension IRAs (commonly referred to as SEPs) allow employers to establish and fund the plan after the employer’s tax year ends. They are the only employer sponsored retirement plan that does not have to be established prior to the end of the tax year. Like profit-sharing plans, only employers contribute to a SEP. A SEP is simple; plan administrators, plan trusts and trustees are not needed. An IRA is used to hold the employer contributions and the employee controls the IRA from day one. SEPs are also subject to simpler employee eligibility requirements, vesting rules, and non-discrimination rules than profit-sharing plans. SEP contributions do not have to be made every year, giving the employer flexibility not seen in other employer sponsored retirement plans.

Compound interest is good, compound taxation is bad.
Registered Financial Consultant Managing Partner - Denton
Successful people make a habit of doing what unsuccessful people are unwilling to do.
Holly L. Hullum
Private Client Division
All well managed portfolios hold defensive reserves.
Harlan W. Wiese RFC LUTCF CLTC
Private Client Division Brokerage Manager
The best time to plan is before you have to. If you wait until you have to plan, you are reacting and not planning, and your options are very limited.
Stephen Hull MBA, RFC
Registered Financial Consultant
Our firm philosophy is simple: protect assets, grow wealth & live well.
William E. Watson III
Registered Financial Consultant President General Agent
The success of a financial strategy is often more dependent on its systematic nature than its rate of return.
Kurt G. Poetschke
Private Client Division