Retirement Plans

Start investing in your future and the future of your valued employees by opening, and contributing to, a Farmers and Merchants Bank retirement plan for your business. The FDIC insures your savings, and several account type options are available to you at Farmers and Merchants Bank. 



(Savings Incentive Match Plans for Employees) - a SIMPLE IRA Plan is an employer-sponsored retirement plan for small businesses. A SIMPLE IRA plan is not a qualified plan, thus it is not subject to the nondiscrimination rules generally applicable to qualified plans. Employers who employ 100 or less employees, who received at least $5,000 of compensation from the employer in the prior calendar year, are eligible to open a SIMPLE plan. Please consult with your tax advisor for eligibility.

SEP Plan

(Simplified Employee Pension) A simplified employee pension (SEP) plan is a business retirement plan which uses IRAs as the investment vehicle. The employer places money into its employees’ IRAs. The employer gets an immediate tax benefit, and the contribution is not income to the employee until distributed from the IRA. The plan must be operated, and administered, in a manner that does not discriminate in favor of highly compensated employees. An employer, such as a sole proprietor, partnership, and corporation including Subchapter S corporations, may establish a SEP. A self-employed individual is both an employer and an employee. A SEP may be established even if the owner is the only eligible employee participating. A SEP may be established for either a full or a part-time business. Please consult with your tax advisor for eligibility.


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