Question: Candle Makers, LLC has a SIMPLE plan for its employees. It currently makes a nonelective contribution of 2 % of employee compensation. In 2 0

Candle Makers, LLC has a SIMPLE plan for its employees. It currently makes a nonelective contribution of 2% of employee compensation. In 2024, Candle Makers wants to start making an additional employer contribution. Assuming each of its five employees earns $65,000 for the year, what is the maximum additional employer annual contribution for each employee?

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