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2021 Form 8880

Use Form 8880 to figure the amount, if any, of your retirement savings contributions credit (also known as the saver’s credit). You may be able to take this credit if you, or your spouse if filing jointly, made (a) contributions (other than rollover contributions) to...

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2020 Form 8880

Use Form 8880 to figure the amount, if any, of your retirement savings contributions credit (also known as the saver’s credit).   You may be able to take this credit if you, or your spouse if filing jointly, made (a) contributions (other than rollover...

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2021 Retirement Plan Limits

Taxpayers can deduct contributions to a traditional IRA if they meet certain conditions. If during the year either the taxpayer or his or her spouse was covered by a retirement plan at work, the deduction may be reduced, or phased out, until it is eliminated, depending on filing status and income. (If neither the taxpayer nor his or her spouse is covered by a retirement plan at work, the phase-outs of the deduction do not apply.)

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Other Resources

2024 Retirement Plan Limits

Retirement Plan Limits IRS Limits on Retirement Benefits and Compensation *Effective January 1, 2024  202420232022401(k), 403(b), 457 Elective Deferral Limit$23,000$22,500$20,500Catch-Up Contribution Limit (age 50 and older)$7,500$7,500$6,500Annual Compensation...

October 2023 Newsletter

October 2023 Newsletter

Hardship Distributions Surge: Strategies for a Troubling TrendMore and more workers are taking hardship distributions from their 401(k) accounts, a recent report shows. Bank of America’s June 2023 Participant Pulse study reveals nearly 16,000 participants withdrew...

Smart Portfolio Stress Testing: Your Retirement Safety Net

Smart Portfolio Stress Testing: Your Retirement Safety Net

You've been diligent—saving, monitoring retirement accounts, consulting your advisor. But are you prepared for life's uncertainties? Your retirement plan relies on assumptions: savings, investment duration, inflation, and returns. Life, however, loves throwing...