2024 Simple Ira Contribution Limits 2024

2024 Simple Ira Contribution Limits 2024. The simple ira and simple 401 (k) contribution limits will increase from $15,500 in 2023 to $16,000 in 2024. Now that the secure 2.0 act allows for higher contribution limits to simple ira in 2024 for employers with fewer than 26 employees, how do you adjust the default.

The annual contribution limit for a traditional ira in 2023 was $6,500 or your taxable. That’s up from the 2023 limit of $15,500.