Milliman’s projections are based on the current 12 months of Consumer Price Index as well as the assumption that year-to-date CPI (since September 30, 2024) will continue to increase monthly through September 30, 2025 by an estimated 25 basis points.
Inflation in the 12 months ending March 31, 2025 was 2.4% as reported by the U.S. Bureau of Labor Statistics (BLS) on April 10, 2025, according to Milliman. This is the same as the 2.4% annual change in CPI as of September 30, 2024 while being lower than the 2.9% average annual change over the past 10 years ended September 30, 2024 and the 2.6% average annual change over the past 20 years ended September 30, 2024.
401(k) contribution limit projections for 2026: Milliman
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