Slight increases have been made due to mild inflation. You will able to put a little more into your workplace retirement account in 2018. The federal government has boosted the annual contribution limit on some of the popular qualified retirement plans thanks to inflation and made other adjustments worth noting. Contribution limits for 401(k)s are … Continue reading Retirement Plan Contribution Limits Rise for 2018
As Director of Retirement Plan Services, this is a question I hear frequently. A Simplified Employee Pension plan (SEP) is an easy, low-cost option for small business owners to provide retirement benefits for employees (including themselves). This retirement plan option allows for an employer to contribute directly to an individual retirement account for all employees. … Continue reading What is a SEP IRA?
401k contributions are susceptible to limitations. There are three types of limits one must pay attention One’s elective (the contributions they “elect” to make themselves) cannot exceed 18,000.00 as of tax filing year 2017. One’s total (combination of elective, employer matching contributions, employer non-elective contributions, and any redistribution of forfeited funds in the plan) contribution. … Continue reading How much money can I contribute to my 401k?