SIMPLE IRA Contribution Question.?

If an employer matches 100% up to 3% does that mean they match dollar for dollar you put in up to the amt of 3% of your salary? or is it 3% of what you put in?

If I make lets say 50k and put in $75 per check they would only match the a total of $1500 which is 3% of 50 k right?

Your employer will match up to 3% of you pretax pay per check, so if you make $100 in a week and contribute $3 your employer will also pay $3 if you pay $5 your employer would still only contribute $3. If you put in $2 your employer would match $2 etc. Hope that clears it up.

You would be putting in 3% of each check, they then match that 3%.

If $50 comes out of your check, then your employer matches that so your total contribution for that check is $100.

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