The IRS on Thursday unveiled new contribution limits for 401(k) plans.

Individuals will be able to save up to $24,500 in 2026. That’s an increase of $1,000 from the contribution limit in 2025.

The limit also applies to 403(b) plans, 457 plans and the federal government’s Thrift Savings Plan, according to the IRS.

The catch-up contribution limit for those plans will increase to $8,000 in 2026, up $500 from the current limit.

The extra contribution is generally allowed for people aged 50 and up. Those workers will be able to save a total of $32,500 in 2026.

An even higher catch-up limit applies to workers aged 60, 61, 62 and 63. That higher limit remains $11,250, the IRS said.

For high-income workers, catch-up contributions will no longer be deducted pre-tax . That’s a change require

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