SIMPLE IRA Calculator
Contribution & Growth
SIMPLE IRA vs SEP IRA
Formula
Total Contribution = Employee Deferral + Employer Match (up to 3% of salary)
Frequently Asked Questions
What is a SIMPLE IRA?
A Savings Incentive Match Plan for Employees (SIMPLE) IRA is a retirement plan for small businesses with 100 or fewer employees. Employers must either match employee contributions up to 3% of salary or make a 2% nonelective contribution.
What is the SIMPLE IRA contribution limit?
For 2024, the employee contribution limit is $16,000 ($19,500 for age 50+). Employer matching is up to 3% of salary. Combined limits are lower than a SEP IRA or 401(k).
You may also need
$
SEP IRA Calculator
Calculate your SEP IRA contribution limits as a self-employed individual or small business owner. Determine maximum contributions and project retirement growth.
Finance$
IRA Contribution Limit Calculator
Determine your IRA contribution limits and deductibility based on income, filing status, and workplace retirement plan coverage. Covers Traditional and Roth IRAs.
Finance$
401K Calculator
Free 401(k) retirement calculator. Estimate your 401k growth with employer match, annual contributions, and compound interest over time.
Finance$
Roth IRA Calculator
Free Roth IRA calculator. Estimate tax-free retirement growth with annual contributions up to the $7,000 limit.
Finance