Limits have been increased by $500 and more for various savings plans.
The Internal Revenue Service (IRS) announced increased limits for 401(k) and Individual Retirement Account (IRA) plans in 2026. The agency raised the amount $1,000 for 401(k) accounts and $500 for IRA accounts.
The IRS stated, “Participants in most 401(k), 403(b), governmental 457 plans and the federal government’s Thrift Savings Plan who are 50 and older generally can contribute up to $32,500 each year, starting in 2026.”
The agency stated that the catch-up contribution limit for individuals 50 and over includes an annual cost-of-living adjustment, which was made under the SECURE 2.0 Act of 2022.
As the Lord Leads, Pray with Us…
- For Acting IRS Commissioner Scott Bessent as he serves in the dual role while he heads the Treasury Department.
- For IRS officials as they review the cost-of-living and make adjustments to retirement account contributions.
Sources: UPI, Internal Revenue Service, AP News
