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We are providing important 2026 informational updates related to the CIRS Plans:

2026 IRS Compensation Limit

  • The IRS sets annual limits on the salary that can be used by qualified pension plans such as the CIRS Pension Plan. These limits are applied on a Plan Year basis (July 1 – June 30).  The CIRS Pension Plan automatically applies these limits for all required purposes (benefit amounts, employer contributions, etc.).
  • Employers must be mindful of these limits when calculating employee contributions for Tier II Members under the CIRS Pension Plan.
  • The compensation limit for the July 1, 2025 to June 30, 2026 Plan Year is $350,000, resulting in a maximum Tier II employee contribution of $10,500 for the current Plan Year.
  • For the July 1, 2026 to June 30, 2027 Plan Year, these amounts will increase to $360,000 and $10,800, respectively.

 

2026 IRS Pre-Tax Contribution Limit

  • The IRS sets annual limits on the amount employees can contribute to a 401(k) plan on a Calendar Year basis (January 1 to December 31).
  • The 2026 limit for regular 401(k) pre-tax deferrals is $24,500.

 

2026 Employee Catch-up Contributions

  • Employee contribution elections (pre- and post-tax) to the CIRS 401(k) Savings Plan must be made by Members through Voya.
  • Members wishing to elect catch-up contributions must complete the attached Catch-up Form and submit it to you as the employer.
  • Catch-up contributions are additional pre-tax contributions available to Members who will be age 50 or older by the last day of the calendar year.
  • The 2026 catchup limits are:
    • Ages 50-59 by 12/31/2026:         $8,000
    • Ages 60-63 by 12/31/2026:         $11,250
    • Ages 64+ by 12/31/2026:             $8,000

 

Roth Contributions

  • Roth features will be added to the CIRS 401(k) Savings Plan in early 2026.
  • The Roth catch-up requirement for Highly Paid Employees (currently those with W-2 compensation over $150,000 in the prior calendar year) was originally scheduled to take effect on 1/1/2024. The IRS delayed implementation to 1/1/2026 and has now issued final regulations stating that, for multiemployer plans (including CIRS), the requirement is further delayed until the expiration of the Collective Bargaining Agreement in effect on 12/31/2025.
  • As a result, the Roth catch-up requirement for the CIRS 401(k) Savings Plan will become effective 1/1/2027.
  • Additional information regarding Roth contributions and the 2027 catch-up rules will be provided in early 2026.

 

This information is also available on our website, www.cirsplans.org.

 

If you have any questions regarding the CIRS Plans, please feel free to call CIRS at 212-674-0101 and ask to speak to a Member Services Representative.