The Internal Revenue Service recently announced that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025.
The Roth 401(k) contribution limit for 2026 has increased, and workers who are 50 and older can save even more.
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Turning traditional 401(k) savings into Roth money promises tax-free income later, but the tradeoff is a real tax bill today.
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Council is poised to pass legislation that would enable the plan, called PhillySaves, which is modeled on similar state-facilitated “auto IRA” programs.
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Domain Money reports ideal 401(k) savings targets by age, highlighting contribution limits and strategies for maximizing retirement savings.
Overall, 654,000 people were 401 (k) millionaires in the third quarter, a new record, the investment firm said. These retirement millionaires have account-holding tenures of roughly 25 to 26 years, ...