The IRS has announced that the amount of tax-favored funds that you can sock away for retirement is increasing. In 2026, the amount most individuals can contribute to their 401(k) plans will tick up $1,000 to $24,500—it was $23,500 for 2025.
The announcement is tied to cost‑of‑living adjustments for pension plans and other retirement-related items for tax year 2026 (those adjustments are required by law).
Here’s a look at some of the most common plans and what will be different next year:
401(k) and Similar Plans
The amount individuals can contribute to their 401(k) plans in 2026 is $24,500—that limit applies to employee contributions made to…
Read the full article at FORBES.COM
