2020 and 2021 Simple IRA Contribution and Income Limits – Small Business Retirement Plans

A SIMPLE IRA is also a small business IRA-based plan with a simplified method for employers to make direct contributions (via salary reductions) toward their employees’ retirement and their own retirement. Employees may choose (not mandatory) to make regular contributions and the employer makes matching or non-elective contributions. No other contributions …

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2021 vs 2020 401k Employee and Employer Contribution Limits and Catch-up Amounts

[Updated for 2020 and 2021 limits] I recently received a few questions regarding 401k retirement plans and contribution limits. The first thing to understand is that there are two main types of contributions that go into these plans. One is your (as a worker or employee) contribution, or elective deferral, …

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Latest 401K, IRA and Roth IRA Contribution and Income Deduction Limits

See this updated page for the latest 401K, IRA and Roth IRA contribution limits. [Updated with 2012 details] 2012 tax advantaged retirement plan contribution limits have officially been released by the IRS, with slight increases over 2011 limits; due mainly to cost of living adjustments (COLA). Further with increases in …

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