This Year's Contribution Limits Maximum employee elective contribution (age 49 and younger) $23,500, up from $23,000 in 2024 Maximum employee elective contribution (age 50 and older) Additional $7,500, remaining the same as in 2024 Maximum employee elective deferral plus catch-up contribution ...
Savings Incentive Match Plan for Employees (SIMPLE) and Simplified Employee Pension IRAs.The contribution limit for SIMPLE IRAs increased to $13,500 from $13,000. The SIMPLE catch-up contribution limit for those over age 50 remains at $3,000. The SEP maximum compensation limit increased to $2...