STATE BANK OF SOUTHERN UTAH BLOG

Retirement Plan Limits



How Much Money Can I Put into My IRA or Employer-Sponsored Retirement Plan?

IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government. The limits are periodically adjusted to compensate for inflation and increases in the cost of living.

IRAs

For the 2013 tax year, you can contribute up to $5,500 to all IRAs combined (the limit will be adjusted annually for inflation). If you have a traditional IRA as well as




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Topics: State Bank of Southern Utah, Planning, Retirement, Retirement Planning, Retirement Plans, IRA, Investment Executives, Finances


Important Birthdays to Remember


Courtesy of SBSU Financial Services

Unforgettable Birthdays

Birthdays may seem less important as you grow older. They may not offer the impact of watershed moments, such as getting a driver’s license at 16 and voting at 18. But beginning at age 59, there are several key birthdays that can affect your tax situation, health-care eligibility, and retirement benefits.

59½ — You can start taking penalty-free withdrawals from IRAs and qualified retirement plans, provided certain conditions are met. Ordinary income taxes generally




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Topics: Taxes, Seniors, Retirement Planning, IRA, Benefits, Wealth Management, Medicare, Social Security, Education


About SBSU

Hometown banking was established in southern Utah with the opening of State Bank of Southern Utah in 1957.

Hometown banking is important because people who live and work in southern Utah make the decisions. Bank employees and officers understand the banking needs of area residents because they are affected by the same economic climate. Find out what hundreds already know - hometown banking is better.

Visit us at sbsu.com

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