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.
The SEP stands for simplified employee pension. It is an individual retirement account or IRA, into which employers can make retirement contributions for themselves and their employees. Compared a 401(k) retirement plan, a SEP IRA is relatively simple to start and manage. 1  There's far less paperwork and annual filing. 2  In fact, if you are self-employed, you have the same deadlines for creating a SEP IRA. 3  The SEP IRA limit is set to increase to $54,000 in 2017.