The IRS has announced the 2026 contribution and income limits for various retirement plans and related tax benefits, which include many increases over 2025 levels. For 401(k), 403(b) and certain similar plans, the general annual contribution limit will be $24,500, up from $23,500 in 2025. The additional catch-up contribution limit for qualifying employees of age 50-59 or 64 and over will rise from $7,500 to $8,000. However, the catch-up contribution limit for those of age 60-63 will not increase, remaining at $11,250. Annual and catch-up contribution limits for SIMPLE retirement plans will also increase.

In addition, the income limits for the Retirement Savings Contribution Credit (commonly known as the Saver’s Credit) will increase for all filing statuses. For those who file under single or married filing separately status, the adjusted gross income (AGI) limit will rise from $39,500 in 2025 to $40,250 in 2026. The AGI limit will increase from $59,250 to $60,375 for head of household filers, and from $79,000 to $80,500 for joint filers. Remember, qualifying individuals may claim both the Saver’s Credit and a deduction for traditional IRA contributions.