Asset Planning, Inc Blog

The latest from the team.

Retirement Contribution Limits for 2014

The Kiplinger Letter published a great summary of the changes to Retirement Contribution Limits and it is below:

 

“Several dollar ceilings on retirement plans are heading up this year:

  • The pay in limitation for defined contribution plans increases to $52,000.  That’s a $1,000 hike for Keogh plans, profit sharing plans, and similar arrangements.
  • Retirement plan contributions can be based on up to $260,000 of salary. 
  • And the benefit limit for pension plans is rising to $210,000 in 2014.
  • The income ceilings on Roth IRA pay ins go up.  Contributions phase out at AGIs of $181,000 to $191,000 for couples and $114,000 to $129,000 for singles. 
  • The deduction phase outs for pay ins to regular IRAs start at higher levels, from AGIs of $96,000 to $116,000 for couples and $60,000 to $70,000 for singles.  If only one spouse is covered by a plan, the phase out zone for deducting a contribution for the uncovered spouse begins at $181,000 of AGI and finishes at $191,000.
  • And the partial credit for retirement plan pay ins phases out at higher levels.  For marrieds…at over $60,000.  Household heads…$45,000.  Singles…$30,000.

Several key items won’t change.  The 401(k) pay in limit remains $17,500.  Folks born before 1965 can put in an extra $5,500.  Ditto for 403(b) and 457 plans.  The ceiling on SIMPLEs stays $12,000…$14,500 for folks age 50 or older this year.  Pay in caps for IRAs and Roths remain $5,500 plus $1,000 for anyone 50 and up this year.”

 

The Kiplinger Letter January 3, 2014

Normal 0 false false false EN-US X-NONE X-NONE

 

Continue reading
  2462 Hits

Search Blogs Module

Wait a minute, while we are rendering the calendar
health care costs CARES Act CFP ® Two-Step Verification pet Medicare Part B 20 year anniversary California Lions Friends Part D premiums . checklists tax filing deadlines cell phone carriers offer president Trump pets vacation illiegal robocallers Treasury Department wells Fargo information self-help topics tax season Amazon borrowing money settlement options email notifications identity theft FEMA website increase Medicare question card reader IRA accounts flash drive Medicare plan credit card fraud documents text messages executive order fees team members DNA test kits ID card 2017 TD Ameritrade National LINC Conference earnings fallout clone counterfeits pet industry Roth IRA 4 pm -8pm Medicare Part B premiums Social Security integral member Puerto Rico cell phone SIM swap scam tax records Auto insurance Orange County 23 andme Medicare Open Enrollment tax deadlines D premiums scams water … health care services cell phone carriers EEChecklist-Kits.pdf stockpilingchecklist.pdf 401K Federal Trade Commission website portal retirement accounts web address consumer spending stimulus package items Independence Day 2017 Equifax breach years CERTIFIED FINANCIAL PLANNER exam October 1 2020. cell phones Healthcare spam phone donation counts estate people medications April 15 toilet paper July weekend news coverage 900 number debt insurance policies fun facts Fox News story privacy settings home break-ins spring cleaning notary services September 8 contribution limit estate planning direction bottom line Economic Security Medicare Advantage jury duty Brexit vote estate planning client portal spread tax returns family members prescription eyeglasses January 10 COVID -19 virus earthquake app stock pile home security app drive /usb life saver Wells Fargo customers IRS credit cards banking hurricane Dorian Kiplinger Letter retirement https :// coronavirus home emergency kit privacy notices Coronavirus Aid driver license insurance policy chip-enabled EMV cards car loans phone companies Part B TD Ameritrade paperwork clutter pet donation drive 2017 IRA contributions phishing sites IRS deadline memorial Day weekend Wells Fargo employees credit monitoring service money retirement plans https ://seekingalpha clients show support pet supplies media accounts Legal robocalls ice cream event 70 1/2. Social Security Administration credit score summer Facebook profile Affordable Care Act market turmoil phone Asset Planning tax deadline padlock September 30 2020. breach asset Planning September 9 opt-out disaster areas offering insurance gap insurance rescue organizations VOIP landline phones birth certificates April 18 2017. Flexible Spending Account Ice Cream Social relief efforts blog post trust Kraig Mathias paper records assets policy interest rates cell phone service provider information Facebook July 4 parking spots Mobile Banking Security Tips Joey Gonzales house sitter identity thieves non-prescripstion sunglasses home mortgages vision screening home CA FTB clients account numbers fun atmosphere official certification credit card company company Retirement Contribution Limits February 14 Erin Nelsen July 3 rd trustee operations manager Notary Public partner /owner “ skimmer ”. April 11 home emergency preparedness kits interest cell phone provider records Expired medications July 6 June 29 phishing scams Open House business hours payments holidays approach emergency kits retirement planning Labor Day student loans FSA ice cream donation items Victor Dergunov Supplemental Security Income Financial Planning Magazine credit freeze emergency folder markets Charles Schwab investment statements Shred paperwork check lists Orange County Superior Court National Ice Cream month 2018 IRA contributions emergency kit