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2013 Cost-Of-Living Adjustments

[fa icon="calendar'] Jan 12, 2014 12:00:00 AM / by Benetrends posted in 401(k) rollovers, General, retirement planning, Small Business Owners, Benetrends, business, Consumer Price Index, cost-of-living index, Internal Revenue Service, Len Fischer

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The Cost of Living Adjustment, or COLA, is pretty much what its name implies -- its the adjustment made to make sure your income stays current with the cost of living. The Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for pensions plans and other retirement-related items for tax year 2013. In general, many of the pension plan limitations will change for 2013 because the increase in the cost-of-living index.

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