Last week, the IRS announced that the limit individuals can contribute to their 401(k)s has increased for 2026 from $23,500 to $24,500. The $1,000 increase also applies to 403(b), 457 and Thrift Savings Plans.
The limit on annual contributions to an IRA is increased to $7,500 from $7,000. The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements, Roth IRAs and to claim the Saver’s Credit have all increased for 2026 as well.
Affected individuals should consult their financial advisors or tax preparers about these new contribution limits.
MORE INFORMATION:
Details on these and other retirement-related cost-of-living adjustments for 2026 are in Notice 2025-67, available on IRS.gov.
The full text of the IRS announcement is available here.
WGCU is your trusted source for news and information in Southwest Florida. We are a nonprofit public service, and your support is more critical than ever. Keep public media strong and donate now. Thank you.
