WealthRabbit Support

Are catch-up contributions allowed for SIMPLE IRA plans?

Yes. SIMPLE IRA plans allow employees who are age 50 or older by the end of the calendar year to make catch-up contributions. Catch-up contributions are designed to help individuals boost their retirement savings later in their careers.

These additional contributions are added on top of the regular SIMPLE IRA limit and follow the same payroll deduction and deposit process.

WealthRabbit supports catch-up contributions and automatically tracks totals so employees can take full advantage of this opportunity without exceeding IRS limits.