2024 Max Ira Contribution Amount Over 55

For 2024, the annual contribution limit for simple iras is $16,000, up from $15,500 in 2023. The traditional ira or roth ira contribution limit is $7,000 in 2024.

Employees 50 or older can contribute up to. As a couple, you can contribute a combined total of $14,000 (if you’re both under 50) or $16,000 (if you’re both 50 or older) to a traditional ira for 2024.