2013 Retirement Plan Increases

Please note that in 2013 the maximum amounts you can add to many retirement plans have increased.  See table below.

¹ Must aggregate employee contributions to all 401(k), 403(b), SAR-SEP, and SIMPLE plans of all employers. Contributions to 457(b) plans are not aggregated. For SAR-SEPs, the percentage limit is 25% of compensation reduced by elective deferrals (effectively, a 20% maximum contribution).

² Special catch-up limits may also apply to 403(b) and 457(b) plan participants.

American Taxpayer Relief Act of 2012

Victoria Trigg reminds us that the American Taxpayer Relief Act of 2012 (enacted to avoid the fiscal cliff) contains two provisions that may be important to certain IRA owners and retirement plan participants.  The first extends tax-free charitable contributions from IRAs through 2013, and the second liberalizes the rules for 401(k), 403(b), and 457(b) in-plan Roth conversions.

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Stained Glass Piece # 3

I finally finished my third stained glass piece.  I started it during the winter months and didn’t get it finished before spring gardening took priority.  This one was too large for my art room so I set up shop in the garage.  I needed to speed up its completion to make room for the Tesla.  I could have a work bench and Smart car in the garage at the same time, but not the super roomy Tesla.  

The following is a link to my first two pieces: http://www.candyjlee.blogspot.com/2010/08/beginning-stain-glass.html