Simple Ira Contribution Limits 2024 Catch Up

Simple Ira Contribution Limits 2024 Catch Up. Exceeding this amount can result in penalties. Simple ira participants may contribute up to $16,000 to a simple ira in 2024.

Therefore, participants in those plans who are 50 and older generally can contribute up to $31,000 each year, starting in 2025. The income thresholds for those contributing to a roth ira will increase in 2025.