Retirement savers can stash more money in their 401(k)s next year. Friday, the IRS announced cost-of-living adjustments for retirement plans and IRAs.

For single taxpayers and married individuals filing separately in tax year 2025, the standard deduction is rising to $15,000 — up $400 from 2024.

The federal government places annual contribution limits to 401(k), 403(b)s, IRAs, and Thrift Spending Plans (TSP) to prevent high-earners from receiving more tax breaks than the average worker. The contribution limits are updated annually, and though increases are likely, they are not always guaranteed.

The IRS has announced higher 401(k) contribution limits for 2025. Here’s what savers need to know.

The IRS has announced an increase to the amount individuals can contribute to their 401(k) plans in 2025, to $23,500, up from $23,000 in 2024.

The IRS has announced the cost‑of‑living adjustments for pension plans and other retirement-related items for tax year 2025.

WASHINGTON (AP) — The IRS on Friday announced an increase to the amount individuals can contribute to their 401(k) plans in 2025 — to $23,500, up from $23,000 in 2024.