SEP is a simplified employee pension plan. Under a SEP, employers make contributions to traditional Individual Retirement Arrangements (IRAs) set up for each eligible employee (including self-employed individuals), subject to certain limits. A SEP is funded solely by employer contributions and each employee is always 100 percent vested in all money in his or her SEP IRA.
Mutual of Omaha Bank offers several certificate of deposit (CD) options for funding SEP plans, including fixed rate and variable rate accounts.
To open an IRA or if you have any questions, please call 866.351.5646 (toll-free).