-
Retirement Tax Deadlines for 2012
Tweet Share on Facebook December 21, 2012 CommentIn order to get tax breaks for saving for retirement in a 401(k) or IRA, you need to meet certain deadlines. Retirees also need to pay attention to specific dates to avoid tax penalties. Here are some important dates to keep in mind for tax year 2012:
-
How to Claim the Retirement Saver’s Tax Credit
Tweet Share on Facebook December 14, 2012 CommentLow- and moderate-income workers who save for retirement in 401(k)s and IRAs are eligible to claim the saver’s credit, a tax credit worth up to $1,000 for individuals and $2,000 for married couples. Workers can claim this credit in addition to the tax deduction they also get for their retirement account contributions.
-
How Much You Will Get if Your Pension Fails
Tweet Share on Facebook December 7, 2012 CommentIf your company pension plan fails, you won’t necessarily end up without any retirement income. Most traditional pension plans, but not 401(k)s, are insured by the Pension Benefit Guaranty Corporation up to certain annual limits. The maximum annual guarantee for a 65-year-old retiree whose pension plan ends in 2013 will be $57,477.24, up from $55,840.92 in 2012.
