Simplified Employee Pension (SEP) IRAs, offered through SunTrust Investment Services, are an ideal tax-deferred plan for small business owners or self-employed individuals. They require minimal paperwork and provide maximum flexibility for contributions.
SEPs allow employers to contribute up to 25% of each participant's annual compensation or $46,000, whichever is less. They also allow for different contribution percentages each year, and you can even skip years.
NOTE: Eligibility and contribution amount information is valid as of January 1, 2008.
Neither SunTrust, its officers, nor its employees give tax or legal advice. Please consult your tax or legal advisor concerning your specific situation.