Donna Frances

Simple Ira Contribution Limits 2024. An employee’s compensation up to $345,000 for 2024 is taken into account to figure the contribution limit. In 2020, simple ira contributions increased $500 from 2019 to $13,500 annually ($16,500 if you are over 50).

$16,000 ($19,500 for individuals aged 50 or older) sep ira: In 2020, simple ira contributions increased $500 from 2019 to $13,500 annually ($16,500 if you are over 50).