Simplified Employee Pension (SEP) Plans: Make a Difference to Your Employees’ Future
At GBC Bank, we understand the importance of planning for the future, not just for yourself but for those who help your business thrive. Our Simplified Employee Pension (SEP) plan is designed with your success in mind, offering a straightforward way to contribute to your employees' retirement while enjoying potential tax benefits.
What is a SEP IRA?
A SEP IRA is your tool for securing a strong financial future for your team. Like a Traditional IRA but tailored for businesses, it allows you to make tax-deductible contributions directly to your employees’ retirement accounts. With funds growing tax-deferred, your team can look forward to a more secure retirement.
Why a SEP Plan is Right for You
GBC Bank’s SEP plan is a perfect fit for businesses looking for a flexible, easy-to-manage retirement solution:
- Flexible contributions: Adjust your contributions based on your business performance, giving you control year after year.
- Simple setup: We make it easy for you to implement and maintain your SEP plan, so you can focus on what matters most—running your business.
- Inclusive coverage: Your entire team benefits, ensuring everyone has a stake in a stable, prosperous future.
Note: A SEP plan cannot be used alongside another retirement plan for your business. Additionally, the contribution limits for SEPs change each year, so it's important to check with a tax advisor to ensure you stay within the current limits.
At GBC Bank, we’re dedicated to making a meaningful difference for your business. With our SEP solutions, we strive to set the bar higher so that retirement planning is easier than ever. For more information, fill out our form and get ready to experience a banking partnership where your needs are prioritized today, tomorrow, and into the future.