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IRS Sets Higher 2026 Contribution Limits for 401(k) and IRA Plans

Workers will be able to save more for retirement as U.S. tax authorities adjust annual limits upward starting in 2026.

Summary

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Terms & Concepts
  • 401(k): A U.S. employer-sponsored retirement savings plan that allows pre-tax contributions and tax-deferred growth.
  • IRA: An Individual Retirement Account in the U.S. that provides tax advantages for retirement savings.
  • IRS: Internal Revenue Service, the U.S. federal tax authority responsible for tax collection and enforcement.