(NewsNation) — Retirement savers will see higher contribution limits in 2026, allowing Americans to put more money into tax-advantaged accounts.
Caps for workplace retirement plans, IRAs and HSAs are all higher than they were in 2025. Meanwhile, Social Security recipients are set to receive higher checks this month due to the annual cost-of-living adjustment.
Here’s what savers and retirees should know about this year’s changes.
401(k) contribution limits for 2026
- Employee contribution limit: $24,500
- Catch-up contributions:
- Age 50 or older: $8,000
- Ages 60 to 63: $11,250
Employees can contribute more to workplace retirement plans such as 401(k)s, 403(b)s and 457 plans in 2026.
The standard employee contribution limit rises to $24,500, up $1,000 from 2025. Workers age 50 and older can contribute an additional $8,000, bringing their total to $32,500.
Those ages 60 to 63 qualify for a larger “super” catch-up contribution of $11,250, allowing total contributions of up to $35,750 in 2026.
IRA contribution limits for 2026
- Under age 50: $7,500
- Age 50 or older: $8,600 (includes a $1,100 catch-up contribution)
Individual retirement accounts, IRAs, are popular savings vehicles because of their tax advantages.
- Traditional IRAs: Contributions are typically tax-deductible, but taxes on earnings and withdrawals are due in retirement.
- Roth IRAs: Contributions are made with after-tax dollars and aren’t tax-deductible, but earnings and qualified withdrawals are tax-free. Higher earners may be ineligible to contribute due to income limits.
HSA contribution limits for 2026
- Self-only coverage: $4,400
- Family coverage: $8,750
- Catch-up (age 55 and older, not enrolled in Medicare): Additional $1,000
Health Savings Accounts, or HSAs, allow people enrolled in high-deductible health plans to set aside pretax money to pay for medical expenses. They offer a triple-tax advantage, making them one of the most powerful long-term savings tools available.
Unlike Flexible Spending Accounts (FSAs), HSA funds are not “use it or lose it,” meaning that money can be invested and carried forward for several decades.
Social Security benefits rise 2.8%
- Cost-of-living adjustment for 2026: +2.8%
- Average monthly benefit (January 2026):
- Retired Workers: $2,071
- Aged couple, both receiving benefits: $3,208
More than 70 million Social Security recipients will receive a 2.8% cost-of-living increase when checks go out this month.
That raises the average monthly benefit for retired workers to $2,071, up $56 from 2025, according to the Social Security Administration.
Specific benefit amounts vary based on earnings history, years worked, and when benefits are claimed. The maximum monthly benefit for a worker retiring at full retirement age is $4,152 in 2026.
Medicare costs are going up in 2026
- Standard monthly Medicare Part B premium: $202.90
- Annual Medicare Part B deductible: $283
Medicare provides health coverage to more than 69 million people in the U.S., most of them ages 65 and older.
The standard Part B premium — what most enrollees pay — rises to $202.90 in 2026, up $17.90 from 2025. The annual deductible increases to $283, up $26 from the prior year.