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.
BREAKING DOWN 'Individual Retirement Account - IRA' Traditional and Roth IRAs are established by individual taxpayers, while SEP and SIMPLE IRAs are retirement plans established by small business owners and self-employed individuals. Traditional IRAs. In most cases, contributions to traditional IRAs are tax deductible.