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
  1406 Hits
1406 Hits

Search Blogs Module

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