2024 Contribution Limits Simple Ira Over 50. Participants in simple 401 (k) and simple ira plans can take advantage of an increased deferral limit of $17,600 (i.e., 110% of the $16,000 annual limit) if their employer. For 2024, the annual contribution limit for simple iras is $16,000, up from $15,500 in 2023.
The simple ira and simple 401 (k) contribution limits will increase from $16,000 in 2024 to $16,500 in 2025. The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you’re age 50 or older.
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