The contribution and income limits for workplace retirement plans, FSA, and HSA will go up in 2027 to adjust for inflation. No change to IRA contribution limits.
401(a) Plan Contribution Limit
A 401(a) plan allows additional contributions on top of 401(k), 403(b), and 457 plans.
Fiscal Cliff Deal and Backdoor Roth
Happy New Year! News came that Congress passed a fiscal cliff deal, official known as the American Taxpayer Relief Act of 2012. Whether you like it or not, that’ll be the law for now. Rather than doing a run-down for what’s in it, which I’m sure you read everywhere, I will look at one item […]