Planning for retirement is a long-term journey, and staying informed about changes to retirement accounts can help you make the most of your savings. Several updates are taking effect in 2026 that may create new opportunities to grow your retirement nest egg and better manage your financial future.
Whether you're just getting started or are nearing retirement, understanding these changes can help you make more informed decisions. And if you're not sure how these updates affect your situation, the One Nevada Investments team is here to help you navigate your options and build a strategy that aligns with your goals.
1. Higher IRA and 401(k) Contribution Limits
Good news for savers: contribution limits are increasing for many retirement accounts in 2026.
IRA Contribution Limits
The annual contribution limit for Traditional and Roth IRAs increases from $7,000 to $7,500.
For individuals age 50 and older, the catch-up contribution increases from $1,000 to $1,100, bringing the total annual contribution limit to $8,600.
401(k) and Employer-Sponsored Plans
Contribution limits for 401(k), 403(b), most 457 plans, and the federal Thrift Savings Plan increase from $23,500 to $24,500.
Additional catch-up contributions include:
- Ages 50 and older: Up to $8,000 in catch-up contributions, for a total contribution limit of $32,500.
- Ages 60 to 63: Eligible for an enhanced catch-up contribution of up to $11,250, for a total contribution limit of $35,750, creating an even greater opportunity to boost retirement savings during peak earning years.
2. Increased SIMPLE IRA Catch-Up Contributions for Ages 60-63
Workers participating in SIMPLE IRA plans will also see changes this year.
Participants ages 60 through 63 can make larger catch-up contributions under a special SECURE 2.0 provision. For 2026, the IRS sets this enhanced catch-up limit at $5,250 in additional savings.
These enhanced limits can be especially valuable for those looking to accelerate retirement savings as retirement approaches.
3. Higher SIMPLE IRA Employee Deferral Limits
The annual employee contribution limit for SIMPLE IRAs increases by $500 this year, bringing the total to $17,000.
The catch-up contribution limit for participants age 50 and older increases from $3,500 to $4,000.
4. The 10-Year Rule for Inherited IRAs
The SECURE Act's inherited IRA rules continue to reshape estate planning strategies.
If you inherited an IRA from someone who passed away on or after January 1, 2020, you generally must withdraw all funds from the account by December 31 of the tenth year following the original account owner's death.
This rule effectively replaces the "stretch IRA" strategy that previously allowed many beneficiaries to extend distributions over their lifetime.
However, certain beneficiaries may still qualify for exceptions, including:
- Surviving spouses
- Children of the account owner who are under age 21
- Beneficiaries who are not more than 10 years younger than the deceased
- Individuals who are disabled or chronically ill
Because inherited IRA rules can be complex and have significant tax implications, it's important to review your options with a qualified financial professional.
5. A Retirement Savings "Lost and Found"
Have you ever wondered what happened to a retirement account from a previous employer?
The SECURE 2.0 Act established a national Retirement Savings Lost and Found database to help workers reconnect with retirement benefits from past jobs.
The Employee Benefits Security Administration (EBSA) is responsible for maintaining the database and collecting information from retirement plan administrators. Since the database is still being populated, it's a good idea to check periodically for updates if you believe you may have an unclaimed retirement account.
Make the Most of These Changes
Retirement planning isn't just about keeping up with contribution limits and rule changes—it's about making sure your savings strategy supports your long-term goals.
The changes taking effect in this year may present opportunities to save more, optimize your retirement accounts, and strengthen your overall financial plan.
If you're wondering how these updates may affect your retirement strategy, One Nevada's Investments Team is here to help. Our experienced professionals can work with you to evaluate your retirement goals, review your current accounts, and create a plan designed to help you stay on track for the future.
Ready to take the next step?
Connect with the One Nevada's Investments Team today and start building a retirement strategy that works for you.
Disclosure:
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. One Nevada Credit Union and One Nevada Investments are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using One Nevada Investments, and may also be employees of One Nevada Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of One Nevada Credit Union or One Nevada Investments.
Securities and insurance offered through LPL or its affiliates are:
Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value