Update: The general rule of thumb is that an individual is not eligible to receive Social Security disability benefits (SSDI or SSI) during incarceration. It does not matter if the conviction is for a misdemeanor or a felony. However, when benefits stop differs depending on whether you are receiving SSDI or SSI. As a result, individuals may receive Social Security benefits for a short time after incarceration. Click here for more information.
The 2015 IRA contribution limits will look just like it did for 2014. Both the traditional and Roth IRA will have the same contribution limit, which will max out at $5,500. If you are 50 years or older, there is a $1,000 catch up contribution.
For example, for 2010, you can make the maximum contribution to a Roth IRA if your filing status is married filing jointly and your MAGI is under $167,000, assuming you have at least $5,000 ($6,000) in earned income for the year. If your MAGI is between $167,000 to $177,000, your maximum Roth contribution for 2010 is reduced.