401(k) Contribution Limit Increase

On October 19, the IRS announced an increase in the contribution limits for employees who participate in 401(k), 403(b), and most 457 plans. For 2018 the new limit will be increased from $18,000 to $18,500. However, the catch-up contribution limit for employees aged 50 or over remains unchanged at $6,000 annually.

Finding Lost Pensions

My old employer is no longer in business. How do I go about locating or finding that pension plan? If you have a old pension plan and can not find your old employer contact the Pension Benefit Guaranty Corporation to begin finding your retirement money. Include your name, address, phone number, date of birth and social security number. You will also need …

IRS Announces Pension Plan Limitations for 2008

For 2008, personal exemptions and standard deductions will rise, tax brackets will widen and workers will be able to save more for retirement, thanks to inflation adjustments announced today by the Internal Revenue Service. IR-2007-172, Oct. 18, 2007 By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As …