Guest rwallace Posted February 9, 2001 Report Share Posted February 9, 2001 What are the contribution limits for SIMPLE IRA's for 2001, and where can I find them authoritative source for the limits? Link to comment Share on other sites More sharing options...
Appleby Posted February 10, 2001 Report Share Posted February 10, 2001 Employee salary deferral $6,500 up or 100% of compensation-whichever is less. ( this was increaded from $6,000) The increase was announced in IR 2000-82 which can be found at http://ftp.fedworld.gov/pub/irs-news/ir-00-82.pdf Employer has two options- matching $1 for $1 up to 3% of the employee's compensation or making a 2% non-elective contribution- The compensation cap of $170,000 applies to the non-elective contribution. IRS publications 590 and 560 provides other details , including examples, on the contributions. These can be found at http://www.irs.gov. Go to forms and publications Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com Link to comment Share on other sites More sharing options...
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