Increases to 401(k) and IRA contributions for 2026 give you more options to boost your savings.
Putting away as much as possible—in as many ways as possible—for the future may have huge long-term value. In 2026, IRS increases to max 401(k) and IRA contributions make it feasible to put more money in your savings.
2026 retirement account contribution amounts
Typically, the IRS increases contribution limits for some or all retirement savings accounts each year. In 2026, that's true, too. Contributions for employer-sponsored retirement plans such as 401(k)s and individual retirement accounts increased for next year. Note: Some retirement plans may have lower limits, so check with your human resources or benefits department for details.
| Account | 2026 contribution limit |
|---|---|
| 401(k), 403(b), most 457 plans, Thrift Savings Plan | $24,500 |
| Individual retirement account (IRA) | $7,500 |
| Roth IRA | $7,500 |
Catch-up contributions for 401(k)s and IRAs for those age 50 and older also increased for 2026. For 401(k) plans, the catch-up contribution increased from $7,500 to $8,000. For IRAs, the catch-up contribution goes up to $1,100. The so-called super catch-up contribution for those age 60-63 remains the same for 2026: $11,250.
The IRS also increased health savings account (HSA) contribution limits for 2026 for both individuals and families (see below). As a reminder: The money you contribute to an HSA can be rolled over each year, it isn’t taxed, grows tax-free, and you’re not taxed when you withdraw funds for qualified medical expenses. HSAs also have a catch-up contribution provision of $1,000 for those age 55 and older.
- 2026 HSA limit, self coverage: $4,400
- 2026 HSA limit, family coverage: $8,750
Income limits for IRA and Roth IRA contributions
There’s no phase-out income limit for IRAs—generally anyone making any amount of income can open and contribute to an IRA. (And yes, you can have an IRA even if you have a 401(k) or 403(b) through your work.) Above certain income limitations, Roth IRA contributions begin to phase out. Those are single/head of household making more than $153,000, and married filing jointly making more than $242,000.
2026 Roth IRA income requirements
| Filing status | Modified adjusted gross income (MAGI) | Contribution limit, < age 50 |
|---|---|---|
| Single | <$153,000 | $7,500 |
| ≥$153,000, <$168,000 | Phase out | |
| >$168,000 | $0 | |
| Married, filing jointly | <$242,000 | |
| ≥$242,000, <$252,000 | Phase out | |
| >$252,000 | $0 | |
| Married, filing separately | $0 | $7,500 |
| >$0, <$10,000 | Phase out | |
| ≥$10,000 | $0 |
Tax deduction limits for IRAs
Because Roth IRA contributions are made with after-tax dollars, they aren’t deductible on your taxes. But you may be able to deduct contributions to a traditional IRA; it’s dependent on income levels and whether or not you have a retirement plan through work. The IRS has more information; check with your tax professional for details on your situation.
What’s next?
How much are you saving in your Principal retirement accounts, and do you want to increase your contributions? Your individual dashboard has lots of helpful details. Here's how to find out: Navigate to any Principal (Principal.com) page. Click on the blue "Log in" button in the upper right corner of the page. Enter your username and password. On the dashboard, click on the defined contribution tile on the left side.
