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Podcast: γ¬γ’γΈγ§γθ±δΌθ©± Daily News Article Podcast
Episode: IRS boosts contribution limits for 401(k) retirement plan savers
Description: Americans will be allowed to contribute more of their money to 401(k) and similar retirement savings plans next year. The Internal Revenue Service (IRS) said the maximum contribution that an individual can make in 2026 to a 401(k), 403(b), and most 457 plans will be $24,500. That's up from $23,500 this year.
People aged 50 and over, who have the option to make additional "catch-up" contributions to 401(k) and similar plans, will be able to contribute up to $8,000 next year, up from $7,500 this year. That means a 401(k) saver who is 50 or older will be able to contribute a maximum of $32,500 to their retirement plan...