Sep Ira Contribution Limits 2024 Over 50. For 2024, the maximum amount that a business can contribute to a sep ira for each employee is the lesser of: Up to $330,000 of an employee’s compensation may be considered.

The combined annual contribution limit in 2024 for a traditional and roth ira is $7,000 for those younger than age 50 and $8,000 for those 50 and older (since the latter. So, if you’re at least 50 years old, the overall contribution limit for a solo 401 (k) plan.