Simple Ira Limits 2024 Irs. Those employees of employers offering a simple ira will have the opportunity to contribute more in 2024. To qualify for a simple ira, an employee must have earned at least $5,000 in pay during the past two calendar years and expect to earn at least that amount in the current year.
Yes, you can contribute to two simple ira plans if you have two jobs, each offering this type of plan. Generally, you have to pay income tax on any amount you withdraw from your simple ira.