Simple Ira Contribution Limits 2024

Simple Ira Contribution Limits 2024. Secure 2.0 made some significant changes to the simple ira plan contribution limits. For most individuals, the annual contribution limit for a simple ira is $16,500 in 2025 (an increase from $16,000 in 2024).

For those with a simple ira, you can contribute an additional $500 for 2024, plus an additional $3,500 if you are at least age 50, which is the same as 2023. Contribution limits in 2025, simple ira plans are subject to employee contribution limit of $16,500 per year (or $20,000 per year.