Posts Taged retirement

Updated amounts for retirement for 2017

Here are the 2017 allowable amounts for some popular retirement savings accounts: Employer Plan Deferral Limits (401ks, 403(b) and most government plans): No change. $18,000 and a $6,000 catch-up for those 50 and older. IRAs (both Traditional and Roth):  $5,500 with a $1,000 catch-up.   This has been the same for 5 years. Allowable contributions […]

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Social Security Wage Base & Earnings Limits

WAGE BASE: same in 2016 as in 2015 The maximum wage an employee will pay social security on for 2016 is $118,500.  The rate is 6.2% on up to that amount. There is no limit on the amount of wages for the 1.45% of Medicare tax withheld. If you end up paying on more that […]

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