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.
Description. A SEP IRA is a traditional IRA account set up by your employer on your behalf. If you are self-employed, you can set up your own SEP. The contributions made by your employer to a SEP IRA are tax deductible and are always 100 percent vested.This means the contributions to your account and investment earnings are your money and canât be rescinded. SEP IRAs are set up with a provider financial institution selected by your employer.The account provider acts as account trustee.his means the contributions to your account and investment earnings are your money and canât be rescinded. SEP IRAs are set up with a provider financial institution selected by your employer. The account provider acts as account trustee.