401(k) and IRA Changes Coming in 2012

Workers will be eligible to contribute an extra $500 to their 401(k)s next year, the Internal Revenue Service announced this week. Employees with higher incomes will also be eligible to get a tax break for saving in a traditional IRA, contribute to a Roth IRA, and qualify for the saver’s credit. Here’s a look at how 401(k) and IRA rules will change in 2012. http://money.usnews.com/money/blogs/planning-to-retire/2011/10/21/401k-and-ira-changes-coming-in-2012

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