Traditional Ira Contribution Limits 2024 Calendar. In 2024, the employee contribution limits to a simple ira are $16,000 for employees under 50 years old and $19,500 for employees 50 and older by the end of the calendar year. $6,500 (for 2023) and $7,000 (for 2024) if you're under age 50.

In general, for the 2024 tax year, the contribution limits for traditional individual retirement accounts (iras) are as follows: In 2024, the employee contribution limits to a simple ira are $16,000 for employees under 50 years old and $19,500 for employees 50 and older by the end of the calendar year.