A retirement plan specifically designed for self-employed people and small business owners.

TermsWe offer a choice of IRA Certificate of Deposit terms from 1 month to 3 years. Open an IRA or rollover an existing IRA or 401(k).
Access to FundsEarly withdrawal penalties apply. Also, talk to your tax advisor for tax implications of the early withdrawal of an IRA CD.
Minimum to Open$1,000
FeesA $25 annual fee will be assessed if the account balance falls below $10,000 at any time during the term of the account or during any 12-month period, whichever is shorter. A $25 fee may be assessed to transfer any account balance to a rollover account.
ContributionsAnnual contributions an employer makes to an employee's SEP-IRA cannot exceed the lesser of:
  1. 25% of compensation, or
  2. $52,000 in 2014 and $53,000 for 2015 (subject to annual cost-of-living adjustments for later years)1.

1 The limits in the preceding sentence apply in the aggregate to contributions an employer makes for its employees to all defined contribution plans, which includes SEPs. Only up to 25% of compensation, or $52,000 in 2014 and $53,000 for 2015 (subject to annual cost-of-living adjustments for later years) of an employee's compensation may be considered. Contributions must be made in cash. Property cannot be contributed.


Ready to Get Started?

For more information, call us at (805) 963-7511, or just stop by one of our convenient branch locations.

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