Do matches count toward the IRA annual contribution limits?

Article author
Alexander G.
  • Updated

No, matches do not count toward your annual IRA contribution limits.

For traditional and Roth IRAs, the contribution limit for 2024 is $7,000 for people under age 50. If you contribute the full $7,000 to your Later IRA, you can receive a $70 investment if you're in the $6 Personal Plus tier or a $210 investment if you're in the $9 Premium or $12 Premium tier with Later Match.

If you're age 50 and over, the limit for traditional and Roth IRAs is $8,000 for 2024. If you contribute the full $8,000, you can receive an $80 investment if you're in the $6 Personal Plus tier or a $240 investment if you're in the $9 Premium or $12 Premium tier with Later Match.

These annual contribution limits tend to change each year.

If you have a SEP IRA, we'll use the traditional and Roth IRA contribution and match limits outlined above.

 

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