Common use of SEP and SIMPLE IRA Contributions Clause in Contracts

SEP and SIMPLE IRA Contributions. Your employer may make simplified employee pension (SEP) plan contributions to this IRA in addition to your own regular IRA contributions. Your employer is responsible for verifying the SEP plan's eligibility requirements and determining the SEP contribution amount. This IRA cannot accept Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRA contributions from your employer. Contribution Tax Year Regular Contribution Limit Catch-Up Contribution Limit Total Contribution Limit 2022 $6,000 $1,000 $7,000 2023 $6,500 $1,000 $7,500 2024 and later years $6,500* $1,000* $7,500*

SEP and SIMPLE IRA Contributions. Your employer may make simplified employee pension (SEP) plan contributions to this IRA in addition to your own regular IRA contributions. Your employer is responsible for verifying the SEP plan's eligibility requirements and determining the SEP contribution amount. This IRA cannot accept Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRA contributions from your employer. Contribution Tax Year Regular Contribution Limit Catch-Up Contribution Limit Total Contribution Limit 2022 2020 $6,000 $1,000 $7,000 2023 2021 $6,500 6,000 $1,000 $7,500 2024 7,000 2022 and later years $6,5006,000+COLA* $1,000* 1,000 $7,5007,000+COLA*

SEP and SIMPLE IRA Contributions. Your employer may make simplified employee pension (SEP) plan contributions to this IRA in addition to your own regular IRA contributions. Your employer is responsible for verifying the SEP plan's eligibility requirements and determining the SEP contribution amount. This IRA cannot accept Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRA contributions from your employer. Contribution Tax Year Regular Contribution Limit Catch-Up Contribution Limit Total Contribution Limit 2022 2014 $6,000 5,500 $1,000 $7,000 2023 6,500 2015 $6,500 5,500 $1,000 $7,500 2024 6,500 2016 and later years $6,5005,500+COLA* $1,000* 1,000 $7,5006,500+COLA*

SEP and SIMPLE IRA Contributions. Your employer may make simplified employee pension (SEP) plan contributions to this IRA in addition to your own regular IRA contributions. Your employer is responsible for verifying the SEP plan's eligibility requirements and determining the SEP contribution amount. This IRA cannot accept Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRA contributions from your employer. Contribution Tax Year Regular Contribution Limit Catch-Up Contribution Limit Total Contribution Limit 2022 2019 $6,000 $1,000 $7,000 2023 2020 $6,500 6,000 $1,000 $7,500 2024 7,000 2021 and later years $6,5006,000+COLA* $1,000* 1,000 $7,5007,000+COLA*