can also open a SIMPLE IRA or SEP IRA for themselves and their employees. In a way, SIMPLE and SEP IRAs are like 401(k) plans ...

In 2024, under a 401(k) plan, employees under 50 years old could save a maximum of up to $7,000 more through their contributions than with a SIMPLE IRA. Employees 50 and older could save up to $ ...

SIMPLE IRAs provide greater investment flexibility than traditional options, making them appealing to employers and employees ...

Whereas 401(k) plans generally have higher fees, and employers are required to make complex federal reports. Money in a ...

If the under-50 contribution limit is $17,600, then the SIMPLE IRA catch-up contribution is $3,850. This is about half the catch-up contribution allowed to workers with 401(k)s. In 2024 ...

Combining annuities with IRAs or 401(k)s can be powerful. But people often don’t even consider the combination because of ...

Small business plans that require no testing such as a SIMPLE IRA sound great on paper, but they create a nightmare when you want to save more ...

The changes for 401(k) and IRA catch-up contributions include: A higher 401(k) catch-up limit for those ages 60 to 63. A higher SIMPLE catch-up limit. The IRA catch-up limit will be indexed for ...

Employers can’t contribute directly to an employee’s personal Roth IRA, but they can still help with retirement savings in ...

A SIMPLE IRA, or Savings Incentive Match Plan for Employees, is a type of traditional IRA for small businesses and self-employed individuals. As with most traditional IRAs, your contributions are ...