top of page

New Roth IRA Rules for 2013

This is a good article from Rick Rodgers regarding the new Roth rules for 2013.



The Roth IRA is getting a raise in 2013! The Internal Revenue Service recently announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2013. The limit on annual contributions to traditional IRA and Roth IRAs will both rise to $5,500, up from $5,000 in prior years. The Economic Growth and Tax Relief Reconciliation Act of 2001, signed into law by President Bush, increased contributions to from $3,000 to $4,000 and tied future increases to inflation. The last increase for Roth IRAs was in 2008.

Not everyone can make a direct contribution to a Roth IRA. There are income limits phasing out a taxpayer’s ability to contribute. Those limits will also increase in 2013. Single taxpayers and heads of household who are covered by a retirement plan at work begin to phase out contributions when modified adjusted gross income (MAGI) is between $59,000 and $69,000. Joint filers in which an IRA contributor not covered by a retirement plan and is married to someone who is covered phase out when MAGI is between $178,000 and $188,000.

1 view0 comments

Recent Posts

See All

An investing guru who wants to rescue your retirement

Charles Ellis, one of the most revered figures in American investing, hates to waste time. Especially when it comes to an issue over which the clock is ticking: America’s retirement crisis. “I didn’t

Breaking down retirement risks – MarketWatch

This is a very good article about the risks you face in retirement.  It was written by Wade D. Pfau, Ph.D., CFA, , a Professor of Retirement Income in the Ph.D. program for Financial and Retirement Pl

Invest in a Roth 401(k) If You Can

This is a good article about the value of using a Roth 401k – which I find are becoming available much more frequently.  They are a good idea, but, as with most aspects of financial planning, the best

Bình luận

bottom of page