If you were expecting a increase in
2010 COLA (Cost of Living Adjustments) for your retirement plan, you might be disappointed to know that the COLA rates remain unchanged from 2009 except the following changes:
- The modified adjusted gross income limits for determining the deductible amount of traditional IRA contributions for single and head of household filers who are active participants in a plan, and for married taxpayers filing jointly who aren’t active participants in a plan but whose spouses are
- The modified adjusted gross income for Roth IRA purposes for determining the maximum Roth IRA contributions for taxpayers whose filing status is married filing jointly or qualifying widow(er); and
- The adjusted gross income limits for taxpayers who qualify for the 50% savers credit.
Update: Dolans from Askthdolans are arranging a seminar on Retirement Package. I am sure most of your are interested in tripling your retirement income. Dolans will discuss small and easy steps to improve your retirement package even with COLA increase.
Sign up today for Dolans' Seminar on Retirement Planning Quick Tip:
Social Security Federal Employee Cost of Living Adjustment 2010 Tables
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