Simple Ira Contribution Limits 2024 Over 50. The maximum simple ira employee contribution limit is $16,000 in 2024 (an increase from $15,500 in 2023). For the 2023 tax year, the irs set the annual ira contribution limit at $6,500 for those under 50 years old.
You can make 2024 ira contributions until the unextended federal tax deadline (for income earned in 2024). The simple ira and simple 401(k) contribution limits will increase from $16,000 in 2024 to $16,500 in 2025.
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