2024 Contribution Limits Simple Ira. Employers must at least contribute a fixed 2% equal to each participant's annual compensation or match an employee's contributions of up to 3%. The ira contribution limits for 2024 are $7,000 for those under age 50, and $8,000 for those age 50 or older.

Ira contribution limit increased for 2024. Those limits reflect an increase of $500.