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Simple Ira Limits 2024 Irs

Simple Ira Limits 2024 Irs. The contribution limit has been raised to $16,000, up from $15,500 in 2023. Employees age 50 or over can contribute.


Simple Ira Limits 2024 Irs

The elective deferral limit for simple plans is 100% of compensation or $16,000 in 2024, $15,500 in 2023, $14,000 in 2022, and $13,500 in 2020 and 2021. The 2024 simple ira contribution limit for employees is $16,000.

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