India, Nov. 14 -- The Internal Revenue Service (IRS) has announced that for the tax year 2026, the annual contribution limit for workplace retirement plans like 401(k), 403(b), and most 457 plans will increase to $24,500, up from $23,500 in 2025.

The catch-up contribution limit will rise to $8,000 from $7.500 for participants aged 50 and over.

For the much older participants, aged 60-63, the "super catch-up" limit of $11,250 will remain unchanged, citing the SECURE 2.0 Act mandate.

The annual limit climbs to $7,500 (from $7,000) for 2026, and the catch-up contribution for 50-plus contributors will be $1,100 (up from $1,000) for the individual retirement account(IRA) side.

Additionally, the IRS raised income thresholds for the eligibil...