Simplified Employee Pensions (SEP IRA Plans)
A retirement plan that offers flexibility in the amount you choose to contribute each year, Simplified Employee Pensions allow you to set up an IRA for yourself and each of your employees.
The SEP IRA Plan dictates that you contribute a uniform percentage of pay for each employee in the years you choose to contribute, but the percentage can fluctuate from year to year.
- Flexible contribution percentages and terms
- High contribution limit of 25% of pay (or $44,000, whichever is less, in 2006)
- Most employers are eligible to establish a SEP IRA Plan, even if they are self-employed
- Contributions are not required every year
- Simplifies bookkeeping since contribution percentage is uniform
- Not a Deposit
- Not Guaranteed by the Bank or its Affiliates
- Not FDIC Insured
- Not Insured by Any Federal Government Agency
- May Go Down in Value
Investments available through First Tennessee Brokerage, Inc., member FINRA, SIPC, and a subsidiary of First Tennessee Bank National Association.
The Securities and Exchange Commission requires broker-dealers to publish certain order related data. Click here to view this data as required by Rule 606.
First Tennessee does not offer tax or legal advice. You should consult your tax and/or legal advisor regarding your individual situation.