US Retirement Accounts Explained: IRA, Roth IRA, 401(k), After-Tax Contributions, and Pensions
Retirement income in the US almost never comes from a single account. A typical worker’s retirement is stitched together from an employer 401(k), sometimes an IRA on the side, occasionally a pension, and — once the normal 401(k) limit is maxed out — extra after-tax dollars parked in the same plan. Each of these follows its own rules for who can use it, how much can go in, and — the part that actually matters at tax time — when the IRS takes its cut.
This guide walks through each one using 2026 numbers from IRS Notice 2025-67, and ends with two tables you can bookmark.
The big picture: it’s really about when you pay tax
Before naming a single account, it helps to sort them into four tax “buckets.” Almost every question about IRAs, 401(k)s and pensions comes down to one thing: is this money taxed going in, taxed coming out, or — best case — never taxed at all?
- Pre-tax / Traditional — money goes in before tax (it lowers this year’s taxable income), grows tax-deferred, and is taxed as ordinary income when you withdraw it.
- Roth — money goes in after tax (no deduction today), grows completely tax-free, and comes out tax-free in retirement if you follow the rules.
- After-tax, non-Roth — money goes in after tax, like Roth, but the growth is still taxed later as ordinary income. This narrow, lesser-known lane mostly shows up inside a 401(k), once you’ve already maxed the regular limit.
- Pension (defined benefit) — not a contribution account at all. Your employer promises a monthly check for life, sized by a formula (roughly: salary × years of service). You don’t choose an amount or manage the investments — the employer or a pension fund does, and carries the investment risk.
Traditional IRA
An IRA (Individual Retirement Account) is one you open yourself, at a brokerage — no employer required. A Traditional IRA contribution may be tax-deductible in the year you make it, depending on your income and whether you (or your spouse) are covered by a workplace plan.
- 2026 contribution limit: $7,500 ($8,600 if you’re 50 or older).
- Tax treatment: deductible now (fully, partially, or not at all — see the phase-out table below), tax-deferred growth, taxed as ordinary income on withdrawal.
- Required Minimum Distributions (RMDs): you must start withdrawing a minimum amount starting at age 73.
- Early withdrawal: a 10% penalty generally applies before age 59½, on top of ordinary income tax, with exceptions (first home, some education and medical costs, and a few others).
If neither you nor your spouse is covered by a workplace retirement plan, the deduction isn’t limited by income at all. If either of you is covered, deductibility phases out — see the table further down.
Roth IRA
A Roth IRA flips the order: you contribute after-tax dollars (no deduction), and in exchange every dollar of growth comes out completely tax-free in retirement — no tax on withdrawal, ever, as long as the distribution is “qualified.”
- 2026 contribution limit: same pool as the Traditional IRA — $7,500 combined across both ($8,600 if 50+). You can split it between a Traditional and a Roth IRA, but the combined total can’t exceed the limit.
- Qualified distribution: tax- and penalty-free withdrawal of earnings requires the account to be open 5+ years and the owner to be 59½ or older (or meet another exception, like disability or a first home).
- Contributions vs. earnings: you can withdraw your own contributions — not earnings — at any time, tax- and penalty-free, since you already paid tax on that money going in. This is one of the Roth IRA’s most useful, and most misunderstood, features.
- No RMDs: the original owner never has to take Required Minimum Distributions from a Roth IRA — the money can stay invested for life if you don’t need it.
- Income limits: unlike a 401(k), a Roth IRA has an income ceiling. Above a certain MAGI (modified adjusted gross income), you can’t contribute directly at all (see the phase-out table below).
High earner? The “backdoor Roth.” If your income is above the Roth IRA limit, you can still get money into a Roth IRA indirectly: contribute to a non-deductible Traditional IRA (no income limit on making a non-deductible contribution), then convert it to a Roth IRA. This is legal and common, but gets complicated if you already hold other pre-tax IRA money (the “pro-rata rule” taxes the conversion proportionally) — worth a conversation with a tax professional before doing it.
401(k) — the employer-sponsored workhorse
A 401(k) is offered through your employer (403(b) and 457(b) are close cousins for nonprofit, education and government employees, sharing the same 2026 employee limit). Most plans offer two flavors of the employee’s own contribution:
- Traditional (pre-tax) 401(k): contributions reduce your taxable income this year; withdrawals in retirement are taxed as ordinary income.
- Roth 401(k): contributions are after-tax; qualified withdrawals in retirement are tax-free. Unlike a Roth IRA, a Roth 401(k) has no income limit — anyone whose plan offers it can use it, regardless of how much they earn.
Both share the same 2026 employee elective-deferral limit: $24,500 ($32,500 if you’re 50–59, $35,750 if you’re 60–63, thanks to a higher “super catch-up” under SECURE 2.0). That limit is a combined cap across Traditional and Roth 401(k) contributions — you don’t get $24,500 for each.
A few things that make a 401(k) different from an IRA:
- Employer match. Many employers add money on top of what you contribute — commonly 50%–100% of your contribution up to some percentage of salary. This is the closest thing to free money in personal finance; it’s usually the first dollar you should prioritize putting in.
- Vesting. Your own contributions are always 100% yours. Employer contributions may vest on a schedule — you might forfeit unvested employer money if you leave before, say, your third or fourth anniversary.
- Roth catch-up rule for high earners. Starting in 2026, if your FICA wages exceeded $150,000 in the prior year (2025), any catch-up contribution (the extra amount allowed at 50+) must go into the Roth side of the plan, not pre-tax — you no longer get to choose for that portion.
After-tax contributions and the “Mega Backdoor Roth”
Here’s the piece most people never hear about. The $24,500 figure above is only the limit on your own elective deferrals. The IRS also caps the total that can go into your 401(k) in a year — your contributions, your employer’s match and profit-sharing, and any additional after-tax (non-Roth) contributions combined. For 2026 that combined §415(c) limit is $72,000 ($80,000 if you’re 50–59, $83,250 if you’re 60–63).
If your plan allows it, once you’ve hit the $24,500 employee deferral limit, you can keep contributing — with after-tax, non-Roth dollars — all the way up to that higher $72,000 total. These after-tax dollars aren’t deductible going in, and unlike Roth contributions, the growth on them is still taxable later. That’s where the Mega Backdoor Roth comes in: many plans let you immediately convert those after-tax contributions to Roth — either as an in-plan Roth conversion or by rolling them out to a Roth IRA — locking in tax-free growth going forward on money you couldn’t otherwise get past the $24,500 line. The earlier and more often you convert, the less taxable growth accumulates before conversion.
Not every plan offers after-tax contributions or in-plan Roth conversions — this is a “check your plan document” feature, not something available everywhere.
Pension — the account that isn’t an account
A traditional pension, technically a defined benefit (DB) plan, works nothing like the accounts above. There’s no balance you can check online that’s “yours” in the way a 401(k) balance is. Instead, your employer promises a formula-based benefit — commonly something like 1.5% × years of service × final average salary, paid monthly for the rest of your life once you retire.
- Who funds it: the employer (and sometimes the employee, via a smaller mandatory payroll contribution in some public-sector plans). The employer bears the investment risk — if the pension fund’s investments underperform, the employer has to make up the difference; your promised benefit doesn’t shrink.
- Vesting: you typically need a minimum number of years of service (often 5) before you’re entitled to anything if you leave early.
- Taxation: pension payments are taxed as ordinary income when you receive them (private pensions are rarely funded with after-tax dollars, so almost the whole check is taxable).
- Where you’ll still find one: pensions are now rare in the private sector — most companies switched to 401(k)s decades ago — but they remain common for government employees, teachers, and some union jobs. Private-sector pensions are insured (up to limits) by the PBGC (Pension Benefit Guaranty Corporation) if the employer’s plan fails; most public-sector pensions aren’t PBGC-insured but rely on the government sponsor instead.
2026 numbers at a glance
Contribution limits
| Account | 2026 limit | Catch-up, age 50–59 | Catch-up, age 60–63 |
|---|---|---|---|
| 401(k) / 403(b) / 457(b) employee deferral | $24,500 | +$8,000 ($32,500 total) | +$11,250 ($35,750 total) |
| Traditional + Roth IRA (combined) | $7,500 | +$1,100 ($8,600 total) | +$1,100 ($8,600 total) |
| Total 401(k) additions — employee + employer + after-tax (§415(c)) | $72,000 | +$8,000 ($80,000 total) | +$11,250 ($83,250 total) |
Income phase-outs
| Filing status | Roth IRA MAGI phase-out | Traditional IRA deduction phase-out (you’re covered by a workplace plan) |
|---|---|---|
| Single / Head of household | $153,000 – $168,000 | $81,000 – $91,000 |
| Married filing jointly, you’re covered | $242,000 – $252,000 | $129,000 – $149,000 |
| Married filing jointly, only your spouse is covered | $242,000 – $252,000 | $242,000 – $252,000 |
| Married filing separately | $0 – $10,000 | $0 – $10,000 |
Figures are 2026 amounts from IRS Notice 2025-67. Below the low end of a range you get the full amount; above the high end, $0; in between, it phases out proportionally.
A common funding order (general education, not personalized advice)
There’s no single right order for everyone, but a widely used rule of thumb looks like this:
- 401(k) up to the full employer match — it’s an immediate, guaranteed return that nothing else can match.
- HSA, if you have a high-deductible health plan — not covered in depth here, but worth knowing it’s the only account with a triple tax advantage: pre-tax in, tax-free growth, tax-free out for medical costs.
- Max a Roth or Traditional IRA, if you’re eligible — more investment choice than most 401(k) menus.
- Back to the 401(k), up to the $24,500 employee limit.
- After-tax contributions + Mega Backdoor Roth, if your plan supports it, up to the $72,000 total.
- A regular taxable brokerage account for anything left over.
Your actual best order depends on your tax bracket now versus in retirement, whether you expect to need the money early, state taxes, and plenty else — this list is a starting point for a conversation with a financial or tax professional, not a substitute for one.
FAQ
Can I contribute to both a 401(k) and an IRA in the same year? Yes — they’re separate limits. Having a 401(k) can reduce or eliminate the deduction on a Traditional IRA contribution (see the phase-out table), but it never stops you from contributing.
Is a Roth 401(k) the same as a Roth IRA? Same tax treatment (after-tax in, tax-free out), but different accounts with different rules: no income limit on a Roth 401(k), a much higher contribution limit, and — unlike a Roth IRA — Roth 401(k) balances used to require RMDs. That changed: starting in 2024, Roth 401(k)s no longer have RMDs during the original owner’s lifetime, bringing them in line with Roth IRAs.
What happens to my pension if I leave before retirement? If you’re vested (met the minimum service requirement), you keep the benefit you’ve earned so far, payable starting at the plan’s normal retirement age — it typically doesn’t grow with future raises you never received. If you leave before vesting, you generally forfeit the employer-funded benefit entirely.
Do I still get Social Security on top of all this? Yes — Social Security is a separate, government-run program funded by payroll taxes, not something you opt into or manage like these accounts. It typically replaces only a portion of pre-retirement income, which is exactly why the accounts above exist to fill the gap.
What’s an RMD, and which of these accounts have one? A Required Minimum Distribution is the minimum amount the IRS forces you to withdraw (and pay tax on) each year once you reach a certain age — currently 73. Traditional IRAs and Traditional 401(k)s have RMDs. Roth IRAs never do for the original owner; Roth 401(k)s stopped requiring them starting in 2024.
This article explains how these account types generally work, using 2026 IRS figures. It’s educational, not personalized financial, investment, legal or tax advice — your plan’s specific rules, your state’s tax treatment, and your own situation can all change the right answer. Talk to a financial planner or tax professional before making contribution or withdrawal decisions.
美国人的退休收入很少只来自一个账户。典型打工人的退休金往往是拼出来的：雇主提供的 401(k)、自己另开的IRA、少数人还有养老金（Pension），如果401(k)常规额度用满了，还 可能往里面塞“税后缴费（After-tax Contribution）”。这些账户各有各的规则——谁能用、 能存多少，以及最关键的一点：国税局（IRS）到底在哪个环节收税。
这篇文章用2026年的最新数字（来自 IRS Notice 2025-67）把它们逐一讲 清楚，最后附上两张可以收藏的对比表。
大局观：核心就是“钱什么时候被征税”
在认识具体账户之前，先把它们按“税收阶段”分成四类会更好理解。几乎所有关于IRA、 401(k)和养老金的问题，最后都归结为一件事：这笔钱是存进去的时候交税、取出来的时 候交税，还是（最理想的情况）永远不交税？
- 税前 / 传统型（Traditional）——钱在交税之前存入（当年就能少交税），账户 增值部分暂不征税，等你退休取出来时，全部按普通收入交税。
- Roth——钱是税后存入的（存的时候没有抵税好处），但增值部分完全免税，只要符 合规则，退休取出来时也完全不用交税。
- 税后（非Roth）——存入方式跟Roth一样是税后的钱，但增值部分以后取出来时仍要 按普通收入交税。这是一个比较冷门的类别，主要出现在401(k)里，通常是常规额度用满 之后才会用到。
- 养老金（Pension，固定收益计划）——这根本不算一个“账户”。雇主承诺退休后按 公式（大致是：工资 × 工龄）每月付你一笔钱，直到你去世。你不用自己决定存多少、 也不用管投资——雇主或养老基金负责投资，投资风险也由他们承担。
Traditional IRA（传统个人退休账户）
IRA（Individual Retirement Account，个人退休账户）是你自己去券商开的账户，不需要 雇主参与。Traditional IRA的缴费在存入当年通常可以抵税，具体能抵多少取决于你 的收入，以及你（或配偶）是否已经参加了单位的退休计划。
- 2026年缴费上限： $7,500（50岁及以上为$8,600）。
- 税务处理： 存入当年可抵税（全额、部分或完全不能抵，见下方收入分段表），账 户增值期间不征税，取出时按普通收入征税。
- 强制最低提款（RMD，Required Minimum Distribution）： 年满73岁后必须开始每 年提取最低金额。
- 提前取款： 59岁半之前提取，除了正常缴所得税外，一般还要额外交10%罚款，但有 例外（首次购房、部分教育和医疗支出等）。
如果你和配偶都没有参加单位的退休计划，抵税额度不受收入限制。只要有一方参加了单位 计划，抵税额度就会按收入分段递减——见下方表格。
Roth IRA
Roth IRA正好反过来：你存入的是税后的钱（当年不能抵税），但作为交换，退休后取 出的每一分钱增值都完全免税——只要是“合规提取（qualified distribution）”，永远不 用交税。
- 2026年缴费上限： 和Traditional IRA共用同一个额度——两者合计$7,500（50岁以 上合计$8,600）。你可以把额度分配在Traditional和Roth之间，但两者加起来不能超过 上限。
- 合规提取的条件： 账户开立满5年且本人年满59岁半（或满足伤残、首次购房等 其他例外情形），提取增值部分才能免税且不罚款。
- 本金 vs 增值： 你随时可以取回自己存入的本金（不含增值部分），不用交税也不 罚款，因为这笔钱本来就是税后存进去的。这是Roth IRA最实用、但也最常被误解的特点 之一。
- 没有RMD： Roth IRA的原始持有人终生都不需要强制提款，钱可以一直放在账户里 增值，不用就不动。
- 收入上限： 和401(k)不同，Roth IRA有收入天花板。超过一定的MAGI（调整后总收 入的一种口径）就完全不能直接缴费了（见下方表格）。
高收入者怎么办？“后门Roth（Backdoor Roth）”。 如果你的收入超过了Roth IRA的 上限，仍然可以间接把钱存进Roth IRA：先缴一笔不能抵税的Traditional IRA（这种不 抵税的缴费不受收入限制），然后把它转换成Roth IRA。这个操作合法且常见，但如果你名 下已经有其他税前IRA资金，情况会变复杂（“比例规则/pro-rata rule”会按比例把转换的 钱算作应税收入）——操作前最好先咨询税务顾问。
401(k)——雇主提供的主力账户
**401(k)**是雇主提供的退休计划（403(b)和457(b)是它的“近亲”，分别面向非营利机构 /教育行业员工和政府雇员，2026年的员工缴费上限与401(k)相同）。大多数计划里，员工 自己的缴费分两种：
- 传统（税前）401(k)： 缴费当年可以少交税；退休后取出时按普通收入征税。
- Roth 401(k)： 缴的是税后的钱；退休后合规提取完全免税。和Roth IRA不同， Roth 401(k)没有收入上限——只要你的计划提供这个选项，不管你收入多高都能用。
两者共用同一个2026年员工自愿缴费上限：$24,500（50–59岁为$32,500，60–63岁在 SECURE 2.0法案下有更高的“超级追加缴费（super catch-up）“额度，为$35,750）。这个 上限是Traditional和Roth 401(k)加起来的合计上限，不是每种各给$24,500。
401(k)和IRA还有几个关键区别：
- 雇主配比（Employer Match）。 很多雇主会按你缴费金额的一定比例（常见是 50%–100%，且通常有工资比例上限）额外给你存一笔钱。这是个人理财里最接近“白捡的 钱”的机会，通常应该优先拿到手。
- 归属权（Vesting）。 你自己缴的钱永远100%属于你。雇主缴的部分可能需要按计划 规定的年限逐步“归属”——如果你在，比如说，入职满三四年之前离职，尚未归属的那部 分雇主缴费可能会被收回。
- 高收入者的Roth追加缴费新规。 从2026年起，如果你上一年（2025年）的FICA工资 超过$150,000，你的追加缴费（50岁以上可多存的部分）必须存入计划里的Roth部分，不 能再选税前——这部分你没得选了。
税后缴费与“Mega Backdoor Roth”
这是大多数人从没听说过的部分。前面说的$24,500，只是你自己常规缴费的上限。IRS 还给401(k)账户设了一个“总量上限”——你自己的缴费、雇主的配比和利润分享，加上任 何额外的税后（非Roth）缴费，全部加在一起的总额。2026年这个合计上限（§415(c)条 款）是**$72,000**（50–59岁为$80,000，60–63岁为$83,250）。
如果你的计划支持，在你缴满$24,500的员工额度之后，还可以继续用税后（非Roth）的 钱往里存，一直存到总额$72,000的上限。这部分税后缴费存入时不能抵税，而且和Roth 不同，它的增值部分以后取出来仍要交税。这就是Mega Backdoor Roth的用武之地： 很多计划允许你把这些税后缴费立刻转换成Roth——可以是计划内的Roth转换，也可以直接 转出到Roth IRA——这样一来，原本存不进$24,500那道门槛内的钱，之后的增值就能变成免 税的。转换得越早、越频繁，转换前积累的应税增值就越少。
不是所有计划都支持税后缴费或计划内Roth转换——这是需要查自己计划文件才能确认的功 能，不是每个雇主都提供。
养老金（Pension）——一个不算“账户”的账户
传统意义上的养老金，专业名称是固定收益计划（Defined Benefit Plan，DB计 划），运作方式和前面几种完全不同。你没有一个能像401(k)余额一样随时查询、“属于 你”的账户余额。取而代之的是，雇主按一个公式承诺给你一笔福利——常见的公式类似 1.5% × 工龄 × 最终平均工资，退休后按月支付，直到你去世。
- 谁出钱： 雇主（部分公共部门的计划里，员工也需要通过较小额的强制工资扣款出 一部分）。投资风险由雇主承担——如果养老基金投资表现不好，雇主必须补足差额，你 承诺拿到的福利金额不会因此缩水。
- 归属权： 通常需要满一定的最低工龄（常见是5年）才能在提前离职时保留任何权 益。
- 纳税方式： 养老金按月发放时，作为普通收入征税（私营部门的养老金几乎从不是 用税后的钱注资的，所以基本上整笔钱都要交税）。
- 现在还能在哪里见到： 养老金在私营部门已经很少见了——大多数公司几十年前就改 成了401(k)——但在政府雇员、教师和部分工会岗位中仍然常见。私营部门的养老金由 PBGC（Pension Benefit Guaranty Corporation，养老金福利担保公司）提供有限 额度的保险，一旦雇主的计划破产可以兜底；大多数公共部门的养老金不受PBGC覆盖，而 是依赖政府作为担保方。
2026年数字一览
缴费上限
| 账户 | 2026年上限 | 50–59岁追加 | 60–63岁追加 |
|---|---|---|---|
| 401(k) / 403(b) / 457(b) 员工缴费 | $24,500 | +$8,000（合计$32,500） | +$11,250（合计$35,750） |
| Traditional + Roth IRA（合计） | $7,500 | +$1,100（合计$8,600） | +$1,100（合计$8,600） |
| 401(k)总缴费上限——员工+雇主+税后缴费（§415(c)） | $72,000 | +$8,000（合计$80,000） | +$11,250（合计$83,250） |
收入分段限制
| 报税身份 | Roth IRA的MAGI收入分段 | Traditional IRA抵税收入分段（本人参加了单位计划） |
|---|---|---|
| 单身 / 户主 | $153,000 – $168,000 | $81,000 – $91,000 |
| 已婚合并申报，本人参加了单位计划 | $242,000 – $252,000 | $129,000 – $149,000 |
| 已婚合并申报，只有配偶参加了单位计划 | $242,000 – $252,000 | $242,000 – $252,000 |
| 已婚分开申报 | $0 – $10,000 | $0 – $10,000 |
以上数字为IRS Notice 2025-67公布的2026年数据。收入低于区间下限可全额缴费/抵 税；高于区间上限则为$0；处于区间之内按比例递减。
一个常见的存钱优先顺序（科普参考，非个人化建议）
没有一个适合所有人的标准答案，但一个常见的经验法则是：
- 401(k)存到拿满雇主配比为止——这是唯一能立刻拿到、且保证到手的回报，别的 投资很难比。
- 如果你有高免赔额医疗保险（HDHP），优先考虑HSA——本文没有展开讲，但值得知 道它是唯一具备“三重免税”优势的账户：存入免税、增值免税、用于医疗支出取出也免 税。
- 缴满Roth或Traditional IRA（如果你符合条件）——通常比401(k)里能选的投资标 的更丰富。
- 回头继续缴401(k)，缴到$24,500的员工上限。
- 税后缴费 + Mega Backdoor Roth（如果你的计划支持），一直缴到$72,000的总上 限。
- 普通的应税券商账户，用来存放剩下的钱。
具体最适合你的顺序，取决于你现在和退休后的税率高低、是否可能提前用钱、所在州的税 收政策等很多因素——这份清单只是和理财或税务顾问聊之前的一个起点，不能替代专业建 议。
常见问题
同一年既能缴401(k)又能缴IRA吗？ 可以，两者的额度是分开算的。有401(k)可能会让你的Traditional IRA缴费不能抵税或 只能部分抵税（见上方收入分段表），但从来不会阻止你缴费。
Roth 401(k)和Roth IRA是一回事吗？ 税务处理相同（税后存入、免税取出），但规则不同：Roth 401(k)没有收入上限，缴费额 度也高得多；另外，Roth 401(k)以前是要求RMD的，但这一点已经变了——从2024年起， Roth 401(k)在原始持有人在世期间不再要求RMD，和Roth IRA的规则趋于一致。
如果退休前就离职，养老金会怎样？ 如果你已经“归属”（满足了最低工龄要求），你可以保留已经赚到的那部分福利，从计划 规定的正常退休年龄开始领取——但这部分福利通常不会因为你后续本可能拿到的加薪而增 加。如果离职时还没归属，雇主出的那部分福利一般会全部作废。
除了这些，我还能领社会安全金（Social Security）吗？ 可以。Social Security是政府运营的独立项目，靠工资税筹资，不需要你自己选择加入或 管理，运作方式和上面这些账户完全不同。它通常只能替代退休前收入的一部分，这正是上 面这些账户存在的意义——补上剩下的缺口。
RMD是什么？哪些账户有？ RMD（强制最低提款）是IRS规定的，你到了一定年龄（目前是73岁）之后，每年必须从账 户里提取并为之交税的最低金额。Traditional IRA和Traditional 401(k)都有RMD。Roth IRA对原始持有人永远没有RMD；Roth 401(k)从2024年起也不再要求RMD。
本文介绍的是这些账户类型的一般运作方式，数据引用自2026年IRS公布的最新数字，仅 供科普参考，不构成个人化的理财、投资、法律或税务建议——你所在计划的具体规则、所 在州的税收政策，以及你自身的情况，都可能改变最适合你的答案。做出缴费或提款决定之 前，请咨询理财规划师或税务顾问。