In the IRA form of a simple retirement account, employer's can contribute as much as they want into the employee's simple retirement account, even though the employee's contribution is limited to $13,000.

Question

Quizplus · Accepted Answer

Employers cannot contribute as much as they want into an employee's SIMPLE IRA; their contributions are subject to specific limits set by the IRS, including either a matching contribution up to 3% of the employee's compensation or a 2% non-elective contribution for each eligible employee.

In the IRA Form of a Simple Retirement Account, Employer's