Set up a pension plan for your employees—even if your only employee is you!
At Ixonia Bank, we offer Simplified Employee Pension (SEP) IRAs*. Ideal for sole proprietorships and small businesses; this low maintenance, interest-bearing retirement option is easy to set up. And best of all, employer contributions are tax deductible and don’t count as employee income until funds are withdrawn.
As an employer, your SEP contributions are deposited into a traditional IRA CD at Ixonia Bank. Our IRA CDs feature:
- Low minimum opening deposit of $500 on most terms
- Variety of IRA terms ranging from 1 year to 5 years
- Tax-advantaged savings
- Depositors are FDIC insured up to the maximum allowed by law
If you are looking for other options for employee retirement plans, contact our Ixonia Wealth Management team.
For more information on SEP IRAs, please contact a Universal Banker at an Ixonia Bank branch near you. For current rates on our IRAs, visit our Current Rates page.
*Please contact an Ixonia Bank Universal Banker or the Internal Revenue Service’s website for further details on IRAs including eligibility, distributions, contribution limits, reporting requirements, and other possible restrictions. We also suggest a consultation with your financial or tax advisor to see how an IRA could benefit you.