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.
However, a Roth Individual 401k allows much higher annual contribution amounts than a Roth IRA. In 2015 a Roth IRA has a $5,500 limit and $6,500 limit if age 50 or older. The 2015 contribution limit for the Roth Individual 401k is $18,000 and $24,000 if age 50 or older.