Renier
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Are there any contribution limits that apply to the 414(h) plan? Employee and employer?
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limits SIMPLE IRA and SIMPLE 401k Catchup Limits
Renier posted a topic in SEP, SARSEP and SIMPLE Plans
The employee contribution limits for SIMPLE IRA and SIMPLE 401k is currently - $13,000 for Employee Contributions and an additional $3,000 for employees over 50 years of age. Does anybody know whether this limit applies individually to Simple IRA and Simple 401k or combined. Example is if the employee is over 50 and contributes to both Simple Ira and Simple 401k in the same year. Is the overall limit still $16,000?