Simple Ira Limits 2024 Over 50. For 2024, the annual contribution limit for simple iras is $16,000, up from $15,500 in 2023. The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you're age 50 or older.

The ira contribution limits for 2024 are $7,000 for those under age 50, and $8,000 for those age 50 or older. That’s up from the 2023 limit of $15,500.