pension Archives - Financial Advisor in Santa Clarita, CA Virtue Wealth Management

401(k) IRA and Pension 2020 Contribution Limits

Erick Arndt2019-12-24T20:11:34-08:00

New Contribution Limits for 401(k) Plans, Traditional and Roth IRA, and Pension Plans The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. For company retirement plans, the most recognized highlight is the 401(k) contribution limit increase to $19,500 for the new year. [...]

Pension Questions After the Detroit Bankruptcy

2016-12-14T17:07:06-08:00

How many retirees face the possibility of less recurring income? On July 18, Detroit became the largest American city to file for Chapter 9 bankruptcy. What will happen to the pensions of its 20,000+ retired public employees? There is a possibility they could be reduced – perhaps greatly. In the wake of Detroit’s fiscal problems, [...]