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
  2133 Hits

Search Blogs Module

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