Per Ed’s column today (11.20.2024)

Starting in 2025 SIMPLE IRA participants turning 60, 61, 62 or 63 by the end of a calendar year can make an even higher catch-up contribution for that year.

This “super catch-up” is $5,250 (150% of $3,500 – the 2025 regular catch-up limit.)

Assuming your plan already allows the standard $3,500 age 50-or-older catch-up (as most do), here are the rules for increased “super catch-ups “for 2025:

• If you’ll be between ages 60 and 63 on December 31, 2025, you can defer up to $5,250 of catch-ups (on top of regular deferrals of either $17,600 or $16,500).

QUESTION: Does a qualifying participant (i.e. age 60-63) remain eligible for the age-50 catch-up of $3,500 in addition to the “super catch up” of $5250? or just the “super catch up”?

Nothing SIMPLE About It: 3 Different Catch-Up Limits for 2025 – Ed Slott and Company, LLC (irahelp.com)