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Simple Ira Contribution Limits 2024 Over 50. In 2024, employees can contribute $16,000 into their simple ira, which is up from the 2023 simple ira limit of $15,500. The 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older.
Beginning in 2024, the ira contribution limit is increased to $7,000 ($8,000 for individuals age 50 or older) from $6,500 ($7,500 for individuals age 50 or older). The total of all employee and employer contributions per employer will increase from $69,000 in 2024 to $70,000 in 2025 for those under 50.
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