Leonard Muzyn's TVARS Blog

Taxpayers May Contribute up to $18,000 to their 401(k) plans in 2015 IR-2014-99, Oct. 23, 2014 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 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase in the index did not meet the statutory thresholds that trigger their adjustment. Highlights include the following: · 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 $17,500 to $18,000 . · The catch-up contribution limit for employees aged 50 and over who participate in 401(k) , 403(b), most 457 plans, and the federal government’s Thr...

TVARS board members Jim Hovious and I made it clear to the entire TVARS board, and in separate letters to the court, that we do not oppose the taking of any depositions, including our own.  See the letters and the court orders to file them as part of the record in the case here . Tammy Wilson was TVARS’ executive secretary at the time of the contested 2009 TVARS rule changes.    The October 16, 2014 court order regarding depositions requested by the plaintiffs does the following: Permits the deposition of Tammy Wilson.   Denies the deposition of TVA actuary Towers Watson & Company at this point in time. Determines that the potential information to be gained from taking the depositions of Les Bays, Frank Alford or Tom Kilgore about their meeting five years ago is so minimal that it does not justify the additional time that would be required.  The court order is available here  and is reproduced below. UNITED STATES DISTRICT COURT MIDDLE D...