Simple Ira Limits 2024 Over 50. The combined annual contribution limit in 2024 for a traditional and roth ira is $7,000 for those younger than age 50 and $8,000 for those 50 and older (since the latter. The simple 401 (k) plan is a cross between a simple ira and a traditional 401 (k) plan and offers some features of both plans.
It applies only to individuals with at least $100 million in wealth who do not pay at least a 25% tax rate on. For all ira types, you can contribute up to $7,000 in 2024 ($8,000 if youโre 50 and older).