Traditional Ira Contribution Limits 2024. If at any time after retiring the account owner wants to rollover the traditional 401(k) to an ira, the rmd for the year must first be taken from the 401(k). Traditional and roth iras have the same 2023 contribution limits — $6,500, or $7,500 if you’re 50 or older ($7,000 in 2024, or $8,000 if you’re 50 or older).

Ira contribution limit increased for 2024. Retirement savers age 50 and older can chip in an.