The contribution limit for 401(k) plans, 403(b) plans, and TSP’s will increase from $17,000 in 2012 to $17,500 in 2013.
Up to 85% of Social Security benefits may be subject to federal income tax.
The estate tax exemption for 2013 is $5.25 million, with a top tax rate of 40%.
The Bankruptcy Reform Act of 2005 provides up to $1 million of protection to 401k, 403b and 457 plans, as well as SEP and SIMPLE IRAs. In addition, Congress also provided traditional and Roth IRAs with up to $1 million of asset protection.
President Obama and his administration recently endorsed products that protect and maximize retirement funds.
Protect Your Social Security and Medicare from Harmful Cuts! You Earned these Benefits! Call Congress today toll-free at 1-888-722-8514.