Employee contributions to a SIMPLE IRA are limited each year. For 2022, an employee’s contributions to a SIMPLE IRA can’t be more than $14,000, but individuals age 50 and older can contribute an additional “catch-up” amount of $3,000 through 2022. An employer can contribute to employee SIMPLE IRAs by matching up to 3% of an individual employee’s contribution or give all employees 2% of their compensation each year.