Simple Ira Contribution Limits 2024 Irs. Yes, simple ira limits are lower than 401(k) limits. The ira contribution limits for 2024 are $7,000 for those under age 50, and $8,000 for those age 50 or older.

Yes, simple ira limits are lower than 401(k) limits. The simple ira contribution limit increased by $500 for 2024, and workers at small businesses can contribute up to $16,000 or $19,500 if 50 or over.