2025 Simple Ira Contribution Limits

2025 Simple Ira Contribution Limits. (6) under a simple ira plan, an eligible employee may elect to have their employer make limited annual salary reduction contributions to their simple ira. Thanks to the gradual implementation of the secure act 2.0, there are 4 different limits for simple ira employee deferrals that both employees and companies will need to be aware of.

The annual contribution limit for employees who participate in 401(k), 403(b), governmental 457 plans, and the federal government’s thrift savings plan is increased to $23,500, up from $23,000. $13,500 in 2020 and 2021;