New 401(k) rules for 2026

With the new contribution limits, this year you can contribute up to $24,500, a $1,000 increase over last year. If you're age 50 or older, you can make what's called a catch-up contribution. The 401(k) catch-up contribution limit for 2026 is $8,000, which means if you're age 50 or over, you can contribute up to a total of $32,500 to your workplace retirement plan this year. If you’re between ages 60 to 63, you can contribute even more than that regular catch-up contribution limit—something that we’re hearing referred to as the “super catch-up limit.” This year’s “super catch-up limit” is $11,250, which means people ages 60 to 63 can contribute up to a total of $35,750. – Kirsten Hunter Peterson, vice president of thought leadership at Fidelity

No, these limits are just for your own personal contributions. Most people aren't in a financial position to save that maximum amount. At the very least, make sure you're saving enough to earn that full employer match. You don't want to leave money on the table. – Kirsten Hunter Peterson, vice president of thought leadership at Fidelity

Well, the average balance in a 401(k) doesn’t always show the full picture. So, let’s look at it by generation. If we look at Baby Boomers, they have an average balance of $267,900; Gen X, $217,500; Millennials, $80,700; and Gen Z comes in at $17,000.¹ – Kirsten Hunter Peterson, vice president of thought leadership at Fidelity

We suggest saving about 15% of your annual pay for retirement each year, inclusive of any contribution that you might get from your employer, like a match. – Kirsten Hunter Peterson, vice president of thought leadership at Fidelity

One guideline for how much to save before retirement that could be helpful is something called 10X. What that means is you should aim to save about 10 times your annual pay by the time you retire. That's a big number so break it down: Aim to save 3 times your annual pay by the time you turn 40, 6 times by age 50, 8 times by age 60, and finally, that 10 times by age 67, which is the national retirement age. – Kirsten Hunter Peterson, vice president of thought leadership at Fidelity