Phone Number: 763-639-0868

Friday, October 19, 2018

SEP IRA

A simplified employee pension (SEP) is a written plan that allows employers to make retirement contributions to individual retirement arrangements (called SEP-IRAs) set up for each eligible plan participant. These contributions may be deducted from the business's income and excluded from the employee's income. In addition, eligible employees can make traditional IRA contributions to their existing SEP-IRA accounts. Although SEP-IRAs can accept higher annual contributions than traditional IRAs, SEP-IRAs are subject to most of the procedures and federal income tax rules that apply to traditional IRAs.

A SEP may not only provide you with a tax-advantaged way to save for your own retirement, but may also help you attract and retain qualified employees by providing for their retirements. And, it may help your business avoid some of the complexities posed by certain other employer-sponsored retirement plans.

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Advisory Services offered through Investment Advisors, a division of ProEquities, Inc., a Registered Investment Advisor. Securities offered through ProEquities, Inc., a Registered Broker/Dealer, and member FINRA and SIPC.  Conneran Financial is Independent of ProEquities, Inc.

Please be advised that presently Thomas Conneran holds series 6, 7, 63 and 65 licenses in CA, CT, DC, MD, MN, MT, ND, TX, VA, and WI. For residents of other states in which registration is not held, proper licenses and registrations must be obtained by representatives before proceeding further. No part of this communication should be construed as an offer to sell any security or provide investment advice or recommendation. Securities offered through ProEquities, Inc. will fluctuate in value and are subject to investment risks including possible loss of principal.