IRS increases pension and retirement plan contribution limits for 2025
2025 contribution limit for 401(k) plans is $23,500, up from $23,000 in 2024. IRA contribution limit remains $7,000.
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2025 contribution limit for 401(k) plans is $23,500, up from $23,000 in 2024. IRA contribution limit remains $7,000.
With a tight race between Kamala Harris and Donald Trump, the U.S. election could hinge on how voters choose to look at inflation. Here's why.
"Shrinkflation" — when companies charge the same for smaller sizes — is a sneaky way to raise prices. Read on to see what kind of products have shrunk the most.
Social Security benefits are given a cost-of-living adjustment each year. The 2025 COLA increase is the smallest since 2021.
Inflation in September fell to an annual rate of 2.4%, its lowest point since early 2021, as gas and energy costs continued to ease.
The Social Security Administration will set its 2025 cost-of-living adjustment within days. Here's what the experts say.
Grocery costs barely rose last month, according to Friday's report, and energy costs dropped 0.8%, led by cheaper gasoline.
Olive Garden's same-restaurant sales dropped in its most recent quarter. Now, it's tweaking its menu.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
According to reports, Kroger Executive Andy Groff told regulators in a hearing for an anti-trust trial that Kroger raised the price of milk and eggs beyond the level of inflation.
The deal, available through Subway's app and website for a limited time, is aimed at inflation-weary consumers.
The monthly report is viewed as key factor in whether the Federal Reserve cuts its benchmark interest rate in September.
DTE wants customers who are already spending more money to keep the lights on and dig even deeper into their wallets. A handful of frustrated customers and elected leaders protested Wednesday in front of DTE headquarters.
After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
Chipotle CEO Brian Niccol said the company is addressing portion sizes after finding 10% of its locations were skimping.
Consumer spending helped drive growth despite cost-of-living expenses that have spiked across the country.
Although Donald Trump vows to bring U.S. prices down "very quickly," some economists say his policies could rekindle inflation. Here's what to know.
Auto insurance has gone up 19.5% since June of last year, according to the latest Consumer Price Index data. The reason? Getting T-boned by inflation.
The latest consumer price data furthers the case for an interest rate cut by the Federal Reserve as soon as September.
A housing shortage in Texas and minimum wage increases elsewhere are fueling higher than average inflation in some cities.
The Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
Key report on consumer prices comes ahead of interest-rate decision by the Federal Reserve in the afternoon.
Prices excluding food and energy rose at an annual rate of 2.8% in April as inflation eased after flaring earlier this year.
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
A truck driver led multiple police units on a high-speed chase Saturday in Michigan, a pursuit all caught on security cameras.
Michigan State Police officials are investigating after a motorist walking on the shoulder of an interstate exit in Detroit to get more gas for his car was critically injured in a hit-and-run crash Saturday afternoon, the agency said.
The Detroit Red Wings on Saturday night were bested 5-2 by the Carolina Hurricanes, who snapped a season-worst three-game skid.
The chief of the Hamilton Fire Department in Allegan County, Michigan, is dead after he was hit by a vehicle while operating at a medical incident on Tuesday, according to state Rep. Angela Rigas.
A strong winter storm system is bringing warmer temperatures and widespread rain to end the weekend.
A strong winter storm system is bringing warmer temperatures and widespread rain to end the weekend.
DTE Energy says it's working to restore electricity for thousands of people in Southeast Michigan after ice on power lines created outages on Friday.
A truck driver led multiple police units on a high-speed chase Saturday in Michigan, a pursuit all caught on security cameras.
Michigan State Police officials are investigating after a motorist walking on the shoulder of an interstate exit in Detroit to get more gas for his car was critically injured in a hit-and-run crash Saturday afternoon, the agency said.
A pet store in Ypsilanti, Michigan, says a puppy stolen at the business by a woman on Monday was back in its possession on Saturday.
Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.
A 15-gallon tank of gas will cost Michiganders about $42, which is around $15 less than the highest price drivers paid in July 2024.
Ford Motor Co. has stepped up technology in its popular F-150 pickup to combat ever-evolving techniques car thieves have at their disposal.
The management company of the LaFontaine Automotive Group in Metro Detroit has agreed to pay $1.5 million to settle an alleged Paycheck Protection Program loan fraud.
Slower adoption of electric vehicles was cited as the reason for pending layoffs at GM's Factory Zero.
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
The band announced Perry Bamonte's death on their official website on Friday.
The "Taylor Swift" bill package, which includes House Bills 4262 and 4263, authorizes the Michigan attorney general to pursue action against anyone using ticket bots.
James Ransone, the actor who played Ziggy Sobotka in the HBO series "The Wire" and appeared in many other TV shows and movies, has died.
Comedian and actor Bowen Yang performed his final sketch on "SNL" Saturday night, after announcing his unexpected mid-season exit from the show.
Jeffrey R. Holland was next in line to lead the Mormon church under a long-established succession plan.
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
Several major retailers are now charging customers to return items even if they are unopened and in perfect condition.
Stocks are mostly flat in quiet morning trading on Friday as investors return from the Christmas holiday.
With President Trump declaring Dec. 26 a federal holiday, here's what's open and closed on Dec. 26.
Oakland County officials say it has taken immediate action after water tests detected Legionella bacteria at the courthouse.
President Trump on Thursday signed an executive order to reclassify marijuana. While it might seem like a small move, it opens a new door for the industry as a whole.
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
Henry Ford Health has announced new labor agreements with registered nurses and radiology technicians at its Rochester hospital.
A Michigan hospital is asking members of the public to raise their flashlights as well as the spirits of children during the holiday season.
The Detroit Red Wings on Saturday night were bested 5-2 by the Carolina Hurricanes, who snapped a season-worst three-game skid.
The Detroit Pistons fell 131-129 Friday night to the Utah Jazz. Keyonte George scored 31 points and hit a floater in the lane with 2.1 seconds remaining for Utah, who snapped a four-game losing streak.
The university fired ex-coach Sherrone Moore on Dec. 10 for having an "inappropriate relationship" with a female staffer.
Ryan Kennedy, along with attorneys, held a press conference on Friday, denying allegations that he made racial comments toward Metcalf during the Dec. 21 game in Detroit.
Jared Goff and the Detroit Lions have gifted the division rival Green Bay Packers a spot in the playoffs.
The roundtable discusses efforts by political and corporate leaders to raise the bar and improve K-12 education with a focus on raising reading scores.
With one in eight adults at risk for kidney disease, Dr. Silas Norman, a University of Michigan doctor specializing in kidney health, and Sandy Baruah, President and CEO of Detroit Regional Chamber, appear on Michigan Matters.
The state of Michigan can do better when it comes to raising the bar on K-12 public education.
The Detroit show will attract hundreds of thousands to the area as automakers, tech companies and more gravitate to downtown Detroit.
This week on Michigan Matters, Carol Cain speaks with retail owners and entrepreneurs ahead of the holiday season.
A high-speed pursuit involving multiple law enforcement vehicles and a truck driver on Saturday was caught on security cameras. CBS News Detroit's Julia Avant spoke to people who saw the incident.
Attorneys for the man accused of involuntary manslaughter in the 2024 fatal explosion in Clinton Township have filed a motion to dismiss the charge. Plus, other top stories for the evening of Dec. 27, 2025.
A winter storm on Friday night covered states like New York and New Jersey with several inches of snow. More than 4,000 flights across the U.S. were delayed on Saturday morning amid the winter weather.
Rounds of heavy rain and thunderstorms possible
Pet City Pets in Ypsilanti said a puppy that was stolen from the business on Monday was back in its possession on Saturday.