Sep Ira Contribution Limits 2024 Over 50. The sep ira allows you to contribute up to 25% of your compensation, or $69,000 in 2024. It's important to pay attention to sep ira contribution limits.

Once you open an ira, it’s important to be aware that the irs determines the maximum sep ira contribution limits each year. Beginning in 2024, the ira contribution limit is increased to $7,000 ($8,000 for individuals age 50 or older) from $6,500 ($7,500 for individuals age 50 or older).