Simplified Employee Pension Plan (SEP)
Account Description
- Provides retirement savings opportunity and tax deferral benefits for business owners and employees
- Offers a wide range of investment options, including traditional savings and certificates of deposit
- Semi-annual statement provides updates on progress towards retirement goals
- Withdrawals restricted by federal government
- Substantial penalty for early withdrawal
- Call Customer Service: 216-529-2700 (Outside Cuyahoga County: 800-966-7300) for interest rates
Account Features
*List of First Federal of Lakewood DisclosuresFirst Federal of Lakewood will accept deposits from ALL counties within the state of Ohio.