Business Retirement Accounts

Simplified Employee Pension

Invest in your employees’ retirement through a SEP (Simplified Employee Pension).  SEPs are a tax-advantaged retirement plan for small businesses including sole proprietorships.

  • Enjoy tax benefits for your company and your employees
  • May be able to contribute more to a SEP than you can contribute to an IRA
  • Take advantage of flexible funding.   As an employer, you can decide every year how much to contribute, and you don’t have to contribute every year.
  • Requires less record keeping and is usually easier to administer than other business retirement plans
  • Can be established and funded up to the employer’s tax filing deadline, including extensions

The information provided in this brochure is not intended to be legal or tax advice.  You should consult your attorney or tax advisor for information that relates to your specific circumstances. A penalty may be imposed for early withdrawal on IRA Time Account. $500 minimum deposit required to open an IRA Time Account or IRA Variable Savings. 

Compare Our Individual Retirement Account Options

 

Account TypeIRA Variable SavingsIRA Time Deposit
Account DescriptionA great way to start saving for your retirement or to keep your retirement funds easily accessible.This is an effective investment tool to prepare for your retirement years. You can be assured that your retirement savings will never decline in value.
Traditional IRATax-deferredTax-deferred
Roth IRATax-free distributionsTax-free distributions
Minimum Opening Deposit$500.00 $500.00
Minimum Balance$500.00$500.00
InterestRates are tied to the Premier Bank base lending rate. Interest compounded monthly.Rates tiered for higher balances
Additional DetailsFees may reduce earnings.- Terms available are 7, 12, 24, 36, 48 and 60 months

Penalties may apply for early withdrawal.

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Prime Visions Club is one way to reward our customers for their loyalty and support throughout the years.  We believe our customers and our club members are an important part of the success of our bank.

To become a member, you or your spouse must be age 50 or older.  There is no fee if you have an account with Premier Bank – only benefits, including participating in our trips and receiving a monthly newsletter with financial tips, jokes, recipes, upcoming events, and more! Contact your local office or submit a completed Prime Visions Club Application to sign up today!

Non-customer membership is available for $10 a year.

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