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Last year, the IRS issued final regulations related to limits set by the SECURE 2.0 Act to pre-tax contributions that employees aged 50 or older can add to their 401(k) plan as of January 1 this year.

The IRS determined that employees 50 and older who participate in a 401(k), 403(b) or 457(b) plan, who are subject to FICA, who receive a W-2 statement, and who earned more than $150,000 in the prior year and work for the same employer, are no longer able to make pre-tax catch-up contributions to their retirement plan. However, these employees can make catch-up contributions on a Roth basis, if the employer offers that option.

In 2026, anybody participating in a 401(k), 403(b) or 457(b) plan can make a pre-tax contribution of $24,500. Those aged 50 and over are allowed to add catch-up contributions to this limit. Individuals aged 50-59 (and 64 and older) can add up to $8,000. Individuals aged 60-63 can add up to $11,250. These limits are generally increased each year based on inflation.

However, self-employed individuals, partners and sole proprietors would still be able to make pre-tax catch-up contributions to their Solo 401(k) plans. The restriction also does not apply to Simple IRA or SEP IRA plans. read more

By WYATTE GRANTHAM-PHILIPS and HALLIE GOLDEN

A federal jury has ordered Uber to pay $8.5 million to a woman who says one of its drivers raped her during a 2023 trip.

Uber has faced criticism for its safety record, much of it spanning from thousands of incidents of sexual assault reported by both passengers and drivers. Because drivers on the ridesharing platform are categorized as gig workers — working as contractors, rather than company employees — Uber has long maintained that its not liable for their misconduct.

Thursday’s verdict, reached in Arizona, “validates the thousands of survivors who have come forward at great personal risk to demand accountability against Uber,” said Sarah London, one of the lawyers representing the plaintiff — who said the company has put the “focus on profit over passenger safety.”

Uber said it plans to appeal the jury’s decision, and noted that the jury did not find the company to be negligent, nor that its safety systems were “defective.” read more

Walt Disney World has confirmed that its Frozen Ever After ride will reopen at Epcot on Feb. 12, sporting familiar (but updated) faces on the key animatronic figures of Elsa, Anna and Kristoff.

The attraction has been closed since Jan. 26, and the effects area are currently being tested in anticipation of their debuts.

“I was in awe and got chills seeing Elsa, because it’s literally like she stepped off the screen and it’s standing in front of you now. You will notice the improvement,” said Ken Ricci, executive creative development. He oversees show quality for Imagineering at Walt Disney World.

The change for the heads of three of the attraction’s figures comes with advancements in technology, he said.

“This is a more lifelike articulated head that has a silicone skin,” Ricci said. In the past, their faces were created with projections.

Disney: Theme parks set quarterly revenue record to the tune of $10 billion

“The technology advanced, and there was opportunity to improve the quality of the show and the guest experience,” he said. “As we saw these figures progress for [Disney parks in] Tokyo, Paris and Hong Kong, we saw that as an opportunity to leverage that technology for Walt Disney World.” read more

By PAUL WISEMAN and CHRISTOPHER RUGABER, AP Economics Writers

WASHINGTON (AP) — Looking back on the first year of his second term, President Donald Trump boasts that he has resurrected the American economy by imposing big import taxes on foreign products.

He made his case in a recent opinion piece in The Wall Street Journal, chiding the paper and critics, including mainstream economists, who predicted that tariffs would backfire, raising prices and threatening growth. “Instead,” the Republican president wrote, “they have created an American economic miracle.”

But the proof he offers is often off-base or wrong altogether.

Here’s a look at the facts around Trump’s assessment of tariffs:

CLAIM: “Just over one year ago, we were a ‘DEAD’ country. Now, we are the ‘HOTTEST” country anywhere in the world!’ ’’

THE FACTS: This is a standard statement from Trump. But the U.S. economy was hardly “dead’’ when Trump returned to office last year. And in Trump’s second term, it’s performed strongly — after getting off to a bumpy start. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — The U.S. stock market is roaring back on Friday, as technology stocks recover much of their drops from earlier in the week and bitcoin halts its plunge, at least for now.

The S&P 500 jumped 1.7% Friday and was heading toward its best day since May. The Dow Jones Industrial Average soared 1,102 points, or 2.2%, and topped the 50,000 level for the first time. The Nasdaq composite was up 1.9%, as of 2:30 p.m. Eastern time.

Chip companies helped drive the widespread rally, and Nvidia jumped 7.3% to trim its loss for the week, which came into the day at just over 10%. Broadcom climbed 7.2% and fully erased its drop for the week.

They were the two strongest forces lifting the S&P 500, and they benefited from hopes for continued spending by customers diving into artificial-intelligence technology. Amazon, for example, said late Thursday it expects to spend about $200 billion on investments this year to take advantage of “seminal opportunities like AI, chips, robotics, and low earth orbit satellites.” read more