Simple Ira Limits 2024 . — what are the contribution limits for a simple ira plan? — the simple ira contribution limit increased by $500 for 2024, and workers at small businesses can contribute up to $16,000 or $19,500 if 50 or over.
Works well for companies with 100 or fewer employees earning at least $5,000 in compensation and desire for a simple low cost retirement plan. The contribution limit for a simple ira plan in 2024 is $16,000 for employees, with an additional catch.
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