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SIMPLE IRA Contribution Limits in 2024 and 2025

What are the rules for SIMPLE IRA contributions?

By Motley Fool Retirement Team – Updated Nov 25, 2024 at 4:42PM

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.
Key findings are powered by ChatGPT and based solely off the content from this article. Findings are reviewed by our editorial team. The author and editors take ultimate responsibility for the content.

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