Simplified Employee Pensions (SEPs)
Need help setting up employee’s pensions for your business? Talk to New Tripoli Bank, we can guide you!
- An excellent way to help your employees get a head start on retirement savings.
- Contributions are made solely by the employer for eligible employees.
- Contributions may be tax-deductible based on the employee's maximum adjusted gross income.
- Pays an attractive rate of interest which may vary over the 18-month term.
- Minimum deposit of $250.00.
- Subsequent deposits can be made in any amount.
- Automatically renews at maturity.
- Interest compounded on a daily basis and credited to your account monthly.
- Quarterly account statements.