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
  2558 Hits

Search Blogs Module

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