Options. Lots of options.
That's what employees will encounter this year when examining their retirement plans. Thanks to annual cost-of-living adjustments, workers can contribute more to their retirement savings this year. They can choose the upfront tax break of a 401(k) or deductible IRA. Or, they can delay their gratification by funding a Roth IRA or Roth plan at work that will provide tax-free income in retirement. Here’s the lowdown on new contribution limits and income-eligibility amounts for 2013.
(Story: Mary Beth Franklin)