Employee Retirement Plans

Simplified Employee Pension (SEP) Plans enable you to provide retirement benefits without the expense of having an outside plan administrator, resulting in employee loyalty and added security for the self employed.

Setting up a Simplified Employee Pension (SEP) Plan with Point Breeze Credit Union is quick and easy. Then, it’s as simple as making contributions to the Traditional Individual Retirement Accounts (IRAs) of each eligible employee. Once your contribution has been made, you have no further responsibility for managing the funds. Each employee directs the investment within his or her own IRA.

Benefits:

No setup fees for the employer or employee
SEP Plan contributions are tax-deductible for the employer, and contributions made for employees are a business expense that reduces net profits
Unlike most retirement plans, SEP Plans do not require you to file any additional reports with the government