Friday, 03 November 2017 11:28

401(k) Contribution Limit Increase

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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.

Tuesday, 25 November 2008 17:00

Finding Lost Pensions

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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 to know about your old employer and have information available. Items needed to identify that employer is, name, location, Federal ID number, and plan number. Search your records for any plan documents and plan numbers to better locate the plan.


The Pension Benefit Guaranty Corporation

Missing Participant Program

1200 k Street N.W.

Washington, DC 20005-4026


Pension Benefit Guaranty Coporation

Thursday, 18 October 2007 18:00

IRS Announces Pension Plan Limitations for 2008

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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 a result, more than three dozen tax benefits, affecting virtually every taxpayer, are being adjusted for 2008. Key changes affecting 2008 returns, filed by most taxpayers in early 2009, A few of the changes are:

  • Participants in most employer-sponsored 401(k) plans and 403(b) plans for employees of public schools and certain tax-exempt organizations can contribute up to $15,500, unchanged from 2007.  Individuals, age 50 or over, can make an additional contribution of up to $5,000, also unchanged from 2007.

  • Individuals participating in SIMPLE retirement plans can contribute $10,500, unchanged from 2007.  Those, age 50 or over, can make an additional contribution of up to $2,500, also unchanged from 2007.

  • The annual contribution limit for most defined contribution plans rises to $46,000, up from $45,000 in 2007.

For the complete list of changes view the IRS website.