1. Short title This Act may be cited as the SIMPLE Plan Modernization Act . 2. Contribution limit for simple IRAs (a) In general Subparagraph (E) of section 408(p)(2) of the Internal Revenue Code of 1986 is amended— (1) by striking amount is and all that follows in clause (i) and inserting “dollar amount is— (I) $15,500 in the case of an eligible employer described in clause (iii) which had not more than 25 employees who received at least $5,000 of compensation from the employer for the preceding year, (II) $15,500 in the case of an eligible employer described in clause (iii) which is not described in subclause (I) and which elects, at such time and in such manner as prescribed by the Secretary, the application of this subclause for the year, and (III) $10,000 in any other case. , (2) by striking adjustment .—In the case of in clause (ii) and inserting “ adjustment .— (I) Certain large employers In the case of , (3) by striking clause (i) in clause (ii) and inserting clause (i)(III) , and (4) by adding at the end of clause (ii) the following new subclause: (II) Other employers In the case of a year beginning after December 31, 2019, the Secretary shall adjust annually the $15,500 amount in subclauses (I) and (II) of clause (i) in the manner provided under subclause (I) of this clause, except that the base period taken into account shall be the calendar quarter beginning July 1, 2018. . (b) Catch-Up contributions Paragraph (2) of section 414(v) of the Internal Revenue Code of 1986 is amended— (1) in subparagraph (B)— (A) by striking the applicable in clause (ii) and inserting except as provided in clause (iii), the applicable , and (B) by adding at the end the following new clause: (iii) In the case of an applicable employer plan— (I) which is maintained by an eligible employer described in section 408(p)(2)(E)(i)(I), or (II) to which an election under section 408(p)(2)(E)(i)(II) applies for the year (including a plan described in section 401(k)(11) which is maintained by an eligible employer described in section