Simple Ira Contribution Limits 2024. For 2024, the annual contribution limit for simple iras is $16,000, up from $15,500 in 2023. The agency also boosted the contribution maximums for iras and lifted the limit to $7,000 for 2024, up from $6,500 in 2022.

In 2020, simple ira contributions increased $500 from 2019 to $13,500 annually ($16,500 if you are over 50). 2024 ira contribution and deduction limits effect of modified agi on deductible contributions if you are covered by a retirement plan at work.