Several contribution limits have been increased from 2012 to 2013. Many investors can take advantage of these increases to increase account balances, reach retirement goals earlier, and/or possible hedge against higher taxes.
Traditional IRA and Roth IRA
Contribution Limit $5,500 $5,000
Catch-up Contribution Limit $1,000 $1,000
401(k), Individual 401(k), 403(b) and 457 Plans
Elective Deferral Limit $17,500 $17,000
Catch-Up Contribution Limit $5,500 $5,500
SIMPLE and SEP IRAs
SIMPLE IRA Elective Deferral Limit $12,000 $11,500
SIMPLE IRA Catch-Up Contrib. Limit $2,500 $2,500
SEP IRA Annual Addition (Contrib.) Limit $51,000 $50,000
SEP IRA Coverage Limit $550 $550
For more information, please call your Founders Investment Services representative.
Securities and investment advisory services offered through Financial Network Investment Corporation, member SIPC - Founders Federal Credit Union, Founders Financial Group, LLC and Founders Insurance Services are not affiliated with Financial Network Investment Corporation. Financial Network Registered Sales Branches are located at 607 N. Main Street, Lancaster, SC 29720; 1290 Old Springdale Road, Rock Hill, SC 29730; 100 Springcrest Drive, Fort Mill, SC 29715; 1307 Boiling Springs Road, Spartanburg, SC 29303.
Not NCUA Insured - No Credit Union Guarantee - May Lose Value - Not Deposits -Not Insured by any Federal Government Agency.
This article was written by Derek Hawk with Founders Investment Services Team. It was published in Founders Open Exchange Newsletter (January 2013).