What is a SIMPLE IRA? Everything You Need to Know
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JULY 25, 2023
To be eligible as an employee, you must have earned at least $5,000 from the employer during any two years before the current calendar year and expect to make at least $5,000 this year. Employer contributions must equal 2% of the employee’s compensation up to the annual salary limit of $330,000 in 2023.
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