Simple Ira Contribution Limits 2024 Over 50.  — an employee cannot contribute more than $16,000 in 2024 ($15,500 in 2023) to a simple ira.  — you can contribute a maximum of $7,000 (up from $6,500 for 2023).

 — the contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. Employees age 50 or over can.