UAL Work Rules
01-21-2012, 09:31 AM
#132
Gets Weekends Off
Joined APC: Aug 2008
Position: 787 Captain
Posts: 1,512
Originally Posted by ewrbasedpilot
I wouldn't bet on that either. You might be real surprised. Oh, and his medals are REAL since he was in the Air Force. 
Whatever. He sounds like an obtuse, pot stirrer to me.
Last edited by UAL T38 Phlyer; 01-21-2012 at 11:41 AM. Reason: just read my PM about using the term *******. So I changed it to obtuse.
01-21-2012, 12:45 PM
#134
APC co-founder
Joined APC: Feb 2005
Position: B777
Posts: 5,853
Originally Posted by bkaz
No 401K, but you can contribute to your B fund tax free in the same manner as the 401K. I'm not sure what the limit is for tax free contributions. I always contributed 10% in addition to the 16% the company put in.
B
B
More here: IRS Announces Pension Plan Limitations for 2012
WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012. In general, many of the pension plan limitations will change for 2012 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged. Highlights include:
- The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $16,500 to $17,000.
- The catch-up contribution limit for those aged 50 and over remains unchanged at $5,500.
- The deduction for taxpayers making contributions to a traditional IRA is phased out for singles and heads of household who are covered by a workplace retirement plan and have modified adjusted gross incomes (AGI) between $58,000 and $68,000, up from $56,000 and $66,000 in 2011. For married couples filing jointly, in which the spouse who makes the IRA contribution is covered by a workplace retirement plan, the income phase-out range is $92,000 to $112,000, up from $90,000 to $110,000. For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $173,000 and $183,000, up from $169,000 and $179,000.
- The AGI phase-out range for taxpayers making contributions to a Roth IRA is $173,000 to $183,000 for married couples filing jointly, up from $169,000 to $179,000 in 2011. For singles and heads of household, the income phase-out range is $110,000 to $125,000, up from $107,000 to $122,000. For a married individual filing a separate return who is covered by a retirement plan at work, the phase-out range remains $0 to $10,000.
- The AGI limit for the saver’s credit (also known as the retirement savings contributions credit) for low-and moderate-income workers is $57,500 for married couples filing jointly, up from $56,500 in 2011; $43,125 for heads of household, up from $42,375; and $28,750 for married individuals filing separately and for singles, up from $28,250.
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