SIMPLE ira contribution limit

[chrisdut]

What is the Simple IRA employee contribution limit for 2006? I have found conflicting information ($10,000 and $10,500).

[MasterBlaster]

The limits for a Simple IRA are $12.5 k from each the employee and company for a total of $25k. But there are limits based on income etc.

here's a link to a calculator that will figure how much you can contribute:

http://flagship2.vanguard.com/VGApp/...late&NavStep=1

[pinkmali]

younger than 50 = 10k
over 50 = 12,500 w/ catchup provision
Robin