Employee Contribution Limits
You can make salary deferrals (salary reduction contributions) of up to $11,500 to a SIMPLE IRA plan. If you’re age 50 or over, you can contribute an additional $2,500 in catch-up contributions.

If you participate in more than one retirement plan (such as a 401(k) or a 403(b) plan) that allows you to make salary deferrals, your total employee contributions to all plans can’t exceed your personal limit of $16,500, plus an additional $5,500 if you are age 50 or older. However, because the SIMPLE IRA plan limits your contributions to $11,500, plus an additional $2,500 catch-up contribution, this is the maximum amount you can contribute to your SIMPLE IRA plan.

Employer Contribution Limits
Your employer must either:

  • match your salary deferrals, on a dollar-for-dollar basis, up to 3% of your compensation, or

  • make a nonelective contribution of 2% of your compensation (taking into account no more than $245,000 of compensation).

SIMPLE IRA Plans