clydewolf
Senior Member
Cash: $ 50.25
Posts: 248
Joined: 27 May 2012
|
| IRS Announces Contribution Limits for 2013 Retirement Plans |
 |
|
Yesterday, October 18, 2012 the IRS announced the contribution limits for various retirement savings plans. Included in the announcement are the 2013 adjusted phase-out limits.
The IRA Contribution limit is increased from $5,000 to $5,500. The "Catch-up" Contribution remains unchanged at $1,000.
The 401k, 403b, most 457 plans, and the TSP plans have an increase in the Contribution limit from $17,000 to $17,500.
The "Catch-up" Contributions remain at $5,500.
The MAGI limit for contributing to a ROTH IRA is increased:
- For Single Filers, the phaseout will be between $112,000 to $127,000.
- For MFJ, the phaseout will be between 178,000 to $188,000.
For more detailed information on deductible TIRA Contributions, you can read the notice here:http://benefitslink.com/src/irs/IR-2012-77.pdf
|
