Name: IRS boosts contribution limits for 401(k) retirement plans
Uploaded: 2025-11-14T19:47:28.685Z
Duration: 21 s
Description: The IRS also raised the 2026 annual contribution limits on individual retirement arrangements, or IRAs, to $7,500, up from $7,000 this year.

The IRS also raised the 2026 annual contribution limits on individual retirement arrangements, or IRAs, to $7,500, up from $7,000 this year.

The Internal Revenue Service (IRS) has announced that the maximum contribution limit for 401(k) and other retirement plans will increase to $24,500 for the upcoming year, representing a $1,000 rise from the previous limit. This change allows individuals to save more for retirement through tax-advantaged accounts.

Additionally, individuals aged 50 and older will be able to contribute an extra $8,000 under the catch-up provision, bringing their total possible annual contribution to $32,500. These adjustments aim to help Americans bolster their retirement savings.

IRS boosts contribution limits for 401(k) retirement plans

Soon you will be able to tuck more money into your 401k and other retirement plans. The IRS announcing today it is raising the maximum contributions to $24,500 next year. That is up about $1,000. Those 50 and older, you can take advantage of what is called the catch-up plan. That is an additional $8,000 each year or $32,500 towards your retirement.

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