Business & Personal Checking Accounts  MutualBank

 

Retirement Plan Services: Contribution Limits for 2013

The maximum contribution limits for 2013 have been established. With the exception of the Catch-up limit ($5,500), all others increased from their respective 2012 levels. This is a great time of year to review your contribution levels to see if you are on target to meet your future financial needs and to take maximum advantage of these tax-deferred programs.  

401k Plan Limits

2013

2012

401k Elective Deferrals

$17,500

$17,000

Annual Defined Contribution Limit

$51,000

$50,000

Annual Compensation Limit

$255,000

$250,000

Catch-Up Contribution Limit

$5,500

$5,500

Highly Compensated Employees

$115,000

$115,000

 

 

Non-401k Related Limits

2013

2012

403(b)/457 Elective Deferrals

$17,500

$17,000

SIMPLE Employee Deferrals

$12,000

$11,500

SIMPLE Catch-Up Deferral 

$2,500

$2,500

SEP Minimum Compensation

$550

$550

SEP Annual Compensation Limit

$255,000

$250,000

Social Security Wage Base 

$113,700

$110,100

 

*From IRS – Qualified Plan Contribution Limits 2012-2013 

In addition to measuring contribution levels, this is also a great time of year to gauge the performance of your investment selections. Is your portfolio performance matching your expectations? Are you adequately diversified? Have your investment selections drifted away from your risk/reward targets? Perhaps, it is time for some financial house cleaning. Reorganize…reallocate…reenergize your retirement plan. The experienced professionals of MutualWealth – Retirement Plan Services can help with your plan, asset and financial target reviews. 

If you are a business owner or are involved in the management of employee benefit programs, we may be a valuable resource for you to consider.

Tom Mohler - Vice President, Retirement Plan Services

Contact a Representative Today

Back to Education Resources

Mutual News
  • Brittany Swank Hired as Loan Counselor for MutualBank in Warsaw

    WARSAW, INDIANA – MutualBank welcomes Brittany Swank,...

    Wednesday, August 26, 2015

    READ ARTICLE

View Archived Releases
Mutual Blog

Personal Social Media Account Security

For many of us, social media has become a part of our everyday lives and helps us conveniently keep tabs on the people and topics we care most about.

Recently however, there has been an increase of social media account take overs by cybercriminals. As stated in the media, one contributing factor in some of the social media account takeovers has been the use of weak passwords.


Tips for creating a stronger password:


  • Passwords should typically:
    • be at least 8 characters in length
    • contain at least 1 number
    • contain at least 1 special character (!@#$$%)
    • contain both upper and lower case characters.
  • Do not use your name, date of birth, maiden name, mother’s maiden name, address, or other easily guessable words for passwords. 
  • Another way to create a strong password is to use a series of words that do not relate to each other. For example, JumpingFastRelaxStop!#.

 


Social media additional security options:


Another way to help avoid social media account takeover is to use the additional security options available. Two-factor authentication adds an extra layer of security that drastically decreases your chances of account takeover. Two-factor authentication is essentially the using of two separate components to verify your identity, the combination of something you HAVE with something you KNOW. A good example of two-factor authentication you most likely are already used to is withdrawing cash from an ATM, for example. Having both your debit card AND knowing a pin number is required to complete the withdrawal and protect your identity.

A popular and convenient two-factor authentication method is using a combination of both an online password and a text message verification sent to your phone. Enabling this type of authentication typically follows this process:

  1. Enter your password into Facebook or another website
  2. Immediately receive a text on your phone with a temporary pass key
  3. Enter the passkey received back on the site/app and you’re logged in

This may seem like overkill, but enabling this two-factor authentication will drastically decrease the chances of your social accounts being hacked. And actually, the process of setting up and using this authentication is pretty simple and convenient.

 


How to enable two-factor authentication:


Many popular social networks like Facebook, Twitter, LinkedIN, and others already support two-factor authentication. To learn more about how to do so on the most popular sites on the web, be sure to check out this article:

http://socialcustomer.com/2014/04/how-to-enable-two-factor-authentication-on-50-top-websites-including-facebook-twitter-and-others.html

Wednesday, April 22, 2015

READ BLOG ENTRY

View Archived Posts

Connect with us:

(800) 382-8031

  • Facebook
  • Youtube
  • twitter
  • RSS Feed
 
 
Retirement Plan Services: Contribution Limits for 2013

The maximum contribution limits for 2013 have been established. With the exception of the Catch-up limit ($5,500), all others increased from their respective 2012 levels. This is a great time of year to review your contribution levels to see if you are on target to meet your future financial needs and to take maximum advantage of these tax-deferred programs.  

401k Plan Limits

2013

2012

401k Elective Deferrals

$17,500

$17,000

Annual Defined Contribution Limit

$51,000

$50,000

Annual Compensation Limit

$255,000

$250,000

Catch-Up Contribution Limit

$5,500

$5,500

Highly Compensated Employees

$115,000

$115,000

 

 

Non-401k Related Limits

2013

2012

403(b)/457 Elective Deferrals

$17,500

$17,000

SIMPLE Employee Deferrals

$12,000

$11,500

SIMPLE Catch-Up Deferral 

$2,500

$2,500

SEP Minimum Compensation

$550

$550

SEP Annual Compensation Limit

$255,000

$250,000

Social Security Wage Base 

$113,700

$110,100

 

*From IRS – Qualified Plan Contribution Limits 2012-2013 

In addition to measuring contribution levels, this is also a great time of year to gauge the performance of your investment selections. Is your portfolio performance matching your expectations? Are you adequately diversified? Have your investment selections drifted away from your risk/reward targets? Perhaps, it is time for some financial house cleaning. Reorganize…reallocate…reenergize your retirement plan. The experienced professionals of MutualWealth – Retirement Plan Services can help with your plan, asset and financial target reviews. 

If you are a business owner or are involved in the management of employee benefit programs, we may be a valuable resource for you to consider.

Tom Mohler - Vice President, Retirement Plan Services

Contact a Representative Today

Back to Education Resources

Contact Us
Mobile Capture

24 Hour MutuaLine:

765-747-2931 or 800-289-4376

© MutualBank | Member FDIC | Privacy Policy