Federal News
| More

IRS to Raise Limits on Retirement Contributions in 2013

Source: The Washington Post | Nation | December 27, 2012



The expiring Bush tax cuts aren’t the only laws worth watching for investors as the year ends. A number of new rules are kicking in next year that will allow workers to stash away more money in their 401(k)s and individual retirement accounts.

To keep up with inflation, the Internal Revenue Service announced this year that the annual limit on contributions to 401(k) plans is rising to $17,500 from $17,000. Annual contributions to IRAs, both traditional and Roth, are rising to $5,500 from $5,000, the first time since 2008 that the limit has gone up.
 

View Full Story From The Washington Post

If you enjoyed this post, subscribe for updates.

Comments



Add Your Comment

You are solely responsible for the content of your comments. GOVERNING reserves the right to remove comments that are considered profane, vulgar, obscene, factually inaccurate, off-topic, or considered a personal attack.

Comments must be fewer than 2000 characters.
Most Viewed
This Section    |    Whole Site
Comments


Latest from Federal News

  • Connecticut's Landmark Gun Law Faces Court Challenge
  • A coalition of gun owners, gun dealers and firearms rights organizations have sued the governor and members of the state's attorney's office, contending that the gun law passed in the aftermath of the Sandy Hook Elementary School shootings violates the Constitution.
  • Border-State Governors Call for More Security
  • Advances in technology like drones, fences and surveillance cameras are playing a prominent role in the immigration debate. Some argue they've made the border more secure than ever, but governors in border states say the work is far from done.
  • Obama Declares Oklahoma Tornado a Major Disaster
  • At least 51 people were killed when a massive tornado blasted through central Oklahoma, flattening neighborhoods and destroying two elementary schools. The grim work of search, rescue and recovery continues today.

More From Federal News

GOVERNING Data


© 2011 e.Republic, Inc. All Rights reserved.    |   Privacy Policy   |   Site Map