2012 Retirement Plans Limits AnnouncedOctober 26th, 2011 at 02:24 pm
Well I've been waiting for the 2012 retirement plan limits since before the IRS announced the cost of living increase for Social Security recipients. Lost in all that was the increase for qualified retirement plans (401(k), 403(b), 457(b)) to $17,000, though after the SSI increase I was expecting it. Income limits have increased as well for IRAs, AGI, etc.
This is great. It means money that we can put away to secure our retirement. I will increase my biweekly deduction sometime in December to make sure it's in effect in January.