The IRS has released (Notice 2025-67) the updated retirement plan contribution limits for 2026,
401k Plans
The maximum amount individuals will be able to contribute to their plans in 2026 is $24,500. The amount was previously $23,500 in 2025 and $23,000 in 2024. The limit applies to those who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan. The catch-up contribution limit increased from $7,500 to $8,000 for individuals over 50 years old. Additionally, those who turn 60, 61, 62, or 63 during 2026 are allowed an increased catch-up contribution of $11,250 for a total allowed contribution of $35,750.
SIMPLE, Solo 401(k), and SEP Plans
For SIMPLE retirement accounts, the maximum amount individuals will be able to contribute is $17,000 (previously $16,500), with the catch-up contribution limit for those 50 and older increasing to $4,000 (previously $3,500). For Solo 401(k)s and SEP plans, the contribution limit will be $72,000 (previously $70,000).
IRAs
The maximum amount individuals will be able to contribute to their IRAs increased to $7,500. The catch up contribution limit increased to $1,100 for individuals over 50 years old.
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