5 Things to Know About SEP IRAs
New Orleans Firemen's Federal Credit Union | April 10, 2024
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Simplified Employee Pension (SEP) IRAs are created for individuals who have been employed in their place of work for at least three of the past five years.
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Earnings grow tax-free.
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There are tax benefits for the employer.
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Annual contribution limits are higher than those of traditional IRAs.
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There are no catch-up contributions allowed for workers aged 50+.
