Simple Ira Employee Contribution Limits 2024. The ira contribution limits for 2024 are $7,000 for those under age 50, and $8,000 for those age 50 or older. The contribution limit for a simple ira is $16,000 for 2024.

Yes, simple ira limits are lower than 401(k) limits. $6,000 ($7,000 if you are age 50 or older), or.