2024 Simple Ira Contribution Limits Chart. Review a table to determine if your modified adjusted gross income (agi) affects the amount of your deduction from your ira. The ira contribution limits for 2024 are $7,000 for those under age 50, and $8,000 for those age 50 or older.

The annual employee contribution limit for a simple ira is $16,000 in 2024 (an increase from $15,500 in 2023). Ira contribution limit increased for 2024.