The contribution limits are increasing - Kiplinger
Social Security is a federal government program funded through payroll taxes that provides a basic level of retirement income. However, Social Security is only designed to replace about 40 percent of your pre-retirement income, not all of it. Over 70 million Americans have an IRA and or 401(k) to help make up the difference between the amount they will receive from Social Security and what they expect they will need to live in retirement. Good news: the IRS has released the new 2026 tax changes that will affect your contribution limits for your 401(k) and/or IRA account. Kate Schubel, writing for Kiplinger, outlines the IRS inflation adjustments to contribution limits. Read Ms. Schubel’s article here…
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