About Centrue Financial Corp (CFCB) Centrue Financial Corporation is a bank holding company. The Company operates a subsidiary, Centrue Bank (the Bank). It provides various services, establishes Company-wide policies and procedures, and provides other resources as needed, including capital.
Simplified Employee Pension Plan. Also called a SEP IRA. A retirement plan designed for persons with self-employed income and their employees. It operates like an IRA: it has contribution limits and may be invested in securities. When an employer sets up an SEP, he/she creates a different account for each employee and puts a certain percentage of each person's income into these accounts.
SEP Plan FAQs. A Simplified Employee Pension (SEP) plan provides business owners with a simplified method to contribute toward their employeesâ retirement as well as their own retirement savings. Contributions are made to an Individual Retirement Account or Annuity (IRA) set up for each plan participant (a SEP-IRA). A SEP-IRA account is a traditional IRA and follows the same investment, distribution, and rollover rules as traditional IRAs. See the IRA FAQs. See also Publication 560, Publication 590-A and Publication 590-B for detailed information on SEP plans and SEP-IRAs. 1  Establishing a SEP. 2  Participation. 3  Compensation. 4  Contributions. 5  Distributions (Withdrawals) (same as IRA rules - see IRA FAQs) 6  Investments (same as IRA rules - see IRA FAQs) 7  Terminating a SEP.