Lincoln Financial Group Encourages Retirement Plan Contribution Increases Following Social Security Tax Relief
[PR Newswire] – This year, people saving for retirement through their company-sponsored retirement plan may increase their contributions by 2% without seeing much impact to their take-home pay. As part of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, signed into law on December 17, 2010, the employee portion of the Social Security tax has decreased from 6.2% to 4.2% for all of 2011.
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