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Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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retirement plan contribution levels 2015 tim mullooly

IRS Sets New Retirement Plan Contribution Levels for 2015

October 27, 2014 by Thomas Mullooly

One of the many services we provide to our clients at Mullooly Asset Management is managing the risk in their retirement accounts. We help investors with their 401k accounts, 403b annuities, 457 plans, and IRA’s. Last week the IRS announced adjustments to retirement plan contribution levels for 2015. If you’re saving for retirement, these numbers are very important to know! That’s why we had Tim discuss the changes on our weekly video.

Beginning in 2015:

– Participants in 401k plans, 403b annuities, and 457 plans may now contribute up to $18,000 per year

– If those participants are more than 50 years old, they may contribute an additional $6,000. Bringing their maximum contribution level to $24,000.

– Self employed individuals may contribute up to $53,000 into their SEP accounts (Simplified Employee Pension).

– IRA contribution levels remain unchanged at $5,500. Tom wrote a post on this recently that you can see here: https://mullooly.net/retirement-plan-contribution-limits-2015/7707

Make sure to watch the video to hear Tim share the IRS’s changes to retirement plan contribution levels for 2015.

Source:

http://www.irs.gov/uac/Newsroom/IRS-Announces-2015-Pension-Plan-Limitations;-Taxpayers-May-Contribute-up-to-$18,000-to-their-401(k)-plans-in-2015

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Filed Under: Videos, Retirement Planning Tagged With: 401k account, 403b annuity

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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