IFW News Minute Videos

Your 401k is Growing!

New Limit Increases Allow Us To Save Even More

In this week’s IFW Minute:

President Biden signed the one trillion infrastructure bill into law on Monday and has asked the F T C to investigate if oil companies are illegally driving up prices.

The IRS announced changes to retirement plans today for 401k, 403b, and most 457 plans as well as the Thrift Savings Plan with a limit increase in 2022 to $20,500.  Limits on Roth & Traditional IRA’s remain at $6,000.  Phaseouts also changed for traditional as well as ROTH IRA’s and the simple contribution has increased to $14,000.

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