Retirement Planning : Home Bank

Retirement Planning

Savings and Investments

Premier eCorp

Business Checking

Business Services - Simplified Employee Pension (SEP)
A SEP is a written agreement that allows an employer to make contributions toward his own and his employee's retirement. Once the money is deposited to the employee's IRA-SEP account, all IRA rules apply. The employer gets a tax deduction, and the contribution is not income to the employee until distributed from the IRA.

· Contributions based on a percentage of employee's salary
· Must be the same percentage for all employees
· Contributions to be made by April 15th plus extensions

Business Services - Savings Incentive Match Plan (SIMPLE)
A SIMPLE is a type of salary deferral retirement plan that is easy to administer and cost effective. The employee will defer part of his salary and the employer will match the contribution and both amounts will be deposited in a SIMPLE IRA.

· A calendar year retirement plan
· For employers with 100 or fewer employees
· An employer can match up to 3% of the employee's salary
· An employee may elect salary deferrals

We now offer reverse mortgages.

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