SEP (Simplified Employee Pension)

An SEP, using an individual Retirement Account, provides an employer with a simplified way to make contributions toward an employee's retirement income.

The SEP contribution the employer makes in a year for any one employee may not be more than the smaller of $51,000.00 or 25% of the employee's total compensation.

The deposit terms are the same as IRA'S.

For more information please contact an Exchange Bank Representative.

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