Simple Ira Limits 2024 And 2024. The annual employee contribution limit for a simple ira is $16,000 in 2024 (an increase from $15,500 in 2023). Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government's thrift savings plan can contribute up to $23,000 in 2024, a $500 increase.

1, 2024, the following limits apply: To qualify for a simple ira, an employee must have earned at least $5,000 in pay during the past two calendar years and expect to earn at least that amount in the.