2024 Max Ira Contribution With Catch Up Contribution

2024 Max Ira Contribution With Catch Up Contribution. For 2024, the annual contribution limit for simple iras is $16,000, up from $15,500 in 2023. The limit on combined employee and employer contributions is $69,000, up from $66,000 in 2023.

If you’re eligible, that brings your maximum contribution level to $46,000 for 2024 — or up to $138,000 over three years. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.