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IRS Announces 2016 HSA contribution limits

5/5/2015 4:40:54 PM hsa irs 2016 single family high deductible

According to the IRS, the maximum contribution that can be made next year to an HSA linked to a high-deductible plan will be:

• $3,350 for single coverage

• $6,750 for employees with family coverage

However, maximum out-of-pocket expenses will increase in 2016 for both.

Maximum out-of-pocket employee expense, including deductibles, will be:

• $6,550 for single coverage

• $13,100 for family coverage.

For 2016, a high-deductible health plan is defined

IRS Clarifies Application of One-Per-Year Limit on IRA Rollovers, Allows Owners of Multiple IRAs a Fresh Start in 2015

11/18/2014 11:46:38 PM ira rollover irs 2015 roth

 

The Internal Revenue Service recently issued guidance clarifying the impact a 2014 IRA rollover has on the one-per-year limit imposed on tax-free rollovers between IRAs.


The clarification relates to a change, announced earlier this year, in the way the statutory one-per-year limit applies to rollovers between IRAs. The change in the application of the one-per-year limit precludes an individual from making more than one tax-free rollover in any one-year period, even if the

IRS Announces 2015 Pension Plan Limits

10/31/2014 1:31:21 AM 2015 irs 401k pension 457 403b limit phaseout deferral contribution ira savers credit

The Internal Revenue Service recently announced adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015.

Highlights include the following:

  • The elective deferral (contribution) limit for employees who participate in 401k, 403b, and most 457 plans is increased from $17,500 to $18,000.
  • The catch-up contribution limit for employees aged 50 and over who participate in 401k, 403b, and most 457 plans is increased from $5,500