How Will Upcoming Changes to Retirement Plans Affect You?

News from the web:

Recently, one of our planners was discussing retirement planning with a woman in her mid 50′s. She was a model saver living within her means, had no debt, and was maximizing her 401(k) contributions (or so she thought). Come to find out, she was contributing $13,000 to her retirement plan but was unaware she could have been setting more aside in her company 401(k).While many people would love to be able to contribute this amount to their retirement plan, this concerned pre-retiree was contributing based on the 2004 limits and was actually able to contribute much more to her 401(k) plan ($22,000 in 2011).

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