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SIMPLE IRA Contribution Limits in 2024 and 2025

What are the rules for SIMPLE IRA contributions?

By Motley Fool Retirement TeamUpdated Nov 25, 2024 at 4:42 PM

Key Points

  • A SIMPLE IRA allows a $16,500 employee contribution in 2025, with higher limits for ages 50+ and 60-63.
  • Employers may match employee contributions up to 3% or opt for a 2% non-elective contribution.
  • Exploring all retirement accounts helps maximize savings and tax benefits.

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