Simplified Employee Pension (SEP) IRA

With a SEP IRA, you and your employees can make saving for retirement a priority.

Compare SEP IRA Plans

A Simplified Employee Pension (SEP) Plan benefits is a tax-deferred retirement plan for anyone who is self-employed, owns a business, or employs others. A First Federal SEP is FDIC-Insured and subject to certain limits:

 18 Month2½ Years5 Years
Opening Balance $100 $100 $100
Fixed Rate Yes Yes Yes
Additional Deposits Yes No No
Withdrawals Penalty-free after age 59½ Penalty-free after age 59½ Penalty-free after age 59½
Interest Rate Upgrade No If over age 59½, you can upgrade the interest rate every 18 months on 2½ or 5 year IRAs. Contributions are also accepted at that time. If over age 59½, you can upgrade the interest rate every 18 months on 2½ or 5 year IRAs. Contributions are also accepted at that time.

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