Take Advantage of SIMPLE-IRA Catch-Up Contributions
If you participate in a SIMPLE-IRA and are age 50 or older, you can make so-called catch-up contributions that are above and beyond what younger participants can contribute. These catch-up contributions are intended to address the fact that many people aren't saving enough for retirement. Here's what you need to know about SIMPLE-IRA catch-up contributions, including some necessary background information.