Question: Brady, age 51 , earns $333,333 annually from Infinity, which has 20 employees and sponsors a SIMPLE IRA. Infinity matches all employee deferrals 100% up
Brady, age 51 , earns $333,333 annually from Infinity, which has 20 employees and sponsors a SIMPLE IRA. Infinity matches all employee deferrals 100% up to a 3% contribution. What is the maximum total contribution to Brady's account in 2023 and 2024 (assume the indexed numbers for 2023 remain the same in 2024 and that Brady's salary also remains the same), including both employee and employer contributions? $29,000 in 2023 and $30,900 in 2024 $19,000 in 2023 and $20,900 in 2024 $15,500 in 2023 and $17,050 in 2024. $25,500 in 2023 and 25,500 in 2024
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