Simple Ira Employer Contribution Limits 2024. The maximum simple ira employee contribution limit is $16,000 in 2024 (an increase from $15,500 in 2023). Employers may now offer an increased simple ira plan elective deferral limit, even though plan documents do not reflect the new provision.
For 2023, contributions cannot exceed $15,500 for most people. For participants who separated from service before 2025, the limit is calculated by multiplying the participant’s compensation limit (adjusted through 2024) by 1.0262.
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