Max Simple Ira Contribution 2024 Catch Up. The secure 2.0 act (act) increased the amount that an ira or defined contribution plan could pay in premiums for a qualified longevity annuity contract to. However, because the simple ira plan limits your contributions to $16,000 in 2024 ($15,500 in 2023;

However, because the simple ira plan limits your contributions to $16,000 in 2024 ($15,500 in 2023; A simple ira is an excellent tool for small business owners to help employees save up for retirement.