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Small Business Retirement Plans

Our Planters Bank Trust Services team can help you with your Small Business retirement planning. The following retirement savings options are provided through our Trust Services.

In all mentions of federal tax deductibility and/or tax implications within this section, please seek qualified tax advisement.


A Simplified Employee Pension Plan, commonly known as a SEP-IRA, is a retirement plan specifically designed for self-employed people and small business owners. When establishing a SEP-IRA Plan for your business, you and any eligible employees setup a separate SEP-IRA. Employer contributions are then made into each eligible employee’s SEP-IRA.

Plan Eligibility

You can establish a SEP-IRA Plan if you:

Tax Advantages

Contribution Flexibility

No annual contribution is required.


A SIMPLE IRA Plan allows you and your employees to make contributions to SIMPLE IRAs. Contributions can be made via elective deferral (employee) and matching or non-elective contributions (employer). Employer contributions are tax-deductible and employee contributions are excluded from income for federal income tax purposes.

Plan Eligibility

You can establish a SIMPLE IRA if you are:

Tax Advantages

Contribution Flexibility

Contact a Planters Trust Services team member to find out more about Small Business Retirement Plan options … and how you can gain tax savings and long-term retirement benefits for you and your employees.

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