Simplified Employee Pension (SEP) plan. Get a business tax deduction - in addition to an individual IRA contribution - while providing retirement benefits for you and your employees.
Ideal for businesses with few employees
After having invested the time, effort and money in creating a successful business, you deserve the comfort of knowing that your financial future is secure. Whatever your age, whatever kind of business you run, you also deserve to enjoy the financial benefits of putting a retirement plan into action today. One way to accomplish this is to establish a Simplified Employee Pension (SEP) IRA Plan, sponsored and funded by your business through IRAs established for you and any eligible employees.
A SEP IRA Plan is ideal for self-employed individuals and businesses with few employees and unpredictable cash flows. You can establish the plan and make contributions for the previous tax year any time up to your business tax return due date (including extensions).
SEP IRA Plan benefits include:
- Business tax deduction up to the lesser of 25% of eligible compensation1 per year or $45,000 per participant for 2007 and $46,000 per participant for 2008
- Immediate vesting for you and your employees
- No additional annual tax filings
- Minimal paperwork to establish the plan
- No plan set-up fees
- The flexibility to vary or skip contributions in any particular tax year
With a SEP IRA Plan, you get:
- A plan that is easy to administer
- A plan best for self-employed or businesses with few employees
- A plan that does not include loan capabilities
1Maximum eligible compensation is capped at $225,000 for 2007 and $230,000 for 2008.
Apply now
To open an account or to get more information about retirement plans, please contact our Investment Services Group Retirement Desk at 1.800.774.4724. The group's hours of operation are Monday-Friday 8:00 am - 12:00 am and Saturday 8:00 am - 6:30 pm.
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Banc of America Online Investing, Powered by Merrill Lynch is the brand name for an online investing business offered through Merrill Lynch, Pierce, Fenner & Smith Incorporated. Merrill Lynch Wealth Management is the marketing name for the brokerage services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Investment products are provided by Merrill Lynch, Pierce, Fenner & Smith Incorporated and:
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• May Lose Value
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• Are Not Bank Guaranteed
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Merrill Lynch, Pierce, Fenner & Smith Incorporated
is a registered broker-dealer, member NASD and SIPC, and a wholly-owned subsidiary of Bank of America Corporation.
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Merrill Lynch, Pierce, Fenner & Smith Incorporated is not a tax adviser. We suggest you consult your personal tax adviser before making tax-related investment decisions.
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