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
  2206 Hits

Search Blogs Module

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