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
  2274 Hits

Search Blogs Module

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