Steuben Trust Company - Retirement Plans

Small business owners who offer retirement plans for employees can increase productivity, reduce turnovers and attract better overall employees.

Sep IRAs

Simplified Employee Pension (SEP) Plans allow small business owners to establish retirement plans for themselves and their employees with virutally no setup cost.

It's easy...you simply sign an adoption agreement and eligible emplyees set up IRAs to received SEP contributions.
Each year you decide whether to make a tax deductible contribution ranging from 0% to 15% to your own and your employees' IRAs

Simple IRAs

Savings Incentive Match Plans for Employees (SIMPLE) are similar to 401(k) plans.

Employee defer a percentage of their salary into an IRA on a pre-tax basis.
Employee then match employee deferrals or a percentage of deferrals.
Employers must have fewer than 100 employees to participate in a Simple IRA.

Investments are not insured by FDIC and are not
deposits or guaranteed by the bank and are
subject to investment risk including loss of principle.




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