IRS Releases 2026 Retirement Contribution Limits: What to Know
The Internal Revenue Service recently released new limits for 2026. Although these adjustments won't bring any major changes, there are some minor elements to note.
Individual Retirement Accounts (IRAs)
IRA contribution limits are up $500 in 2026 to $7,500. Catch-up contributions for those over age 50 are up $100 to $1,100, bringing the total limit to $8,600.
Roth IRAs
The income phase-out range for Roth IRA contributions increases to $153,000-$168,000 for single filers and heads of household.
Workplace Retirement Accounts
Those with 401(k), 403(b), 457 plans, and similar accounts will see a $1,000 increase for 2026, the limit rising to $24,500.
SIMPLE Accounts
A $500 increase in limits for 2026 gives individuals contributing to this incentive match plan a $17,000 stoplight.
This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client.
For further information please contact me at www.kmckernanlaw.com kevin@kmckernan.com or 718-317-5007.