2024 Ira Contribution Limits Irs. $7,000 ($8,000 for individuals aged 50 or older) simple ira: If you're trying to catch up on retirement savings, the high contribution limits make it possible.
The irs sets 401(k) contribution limits and typically increases them by $500 each year. This is an increase from 2023, when the limits were $6,500 and $7,500, respectively.