After a number of years with no changes, 2012 brings changes to government benefits, deductions and savings plan limits. The changes are triggered by inflation increases or to resolve funding problems.

Social Security - The cost of living adjustment is 3.6% for Social Security and SSI payments. The maximum income counted in the Social Security deduction from your paycheck has increased to $110,100. Other criteria used for determining benefit qualifications have also been raised by 3.6%.

Medicare - The enrollment period is earlier this year. If you want to make any changes, do it before December 7, 2011.

Some good news from Medicare! The base monthly premium for Part B (medical insurance) is $99.90 per month for 2012. This is a reduction from $115.40 in 2011. If your individual income is greater than $85,000, $170,000 for a couple, you will pay more on a sliding scale. The Part B deductible has been reduced to $140 from $162.

Part A and skilled nursing deductibles have risen by 2.12%.

IRS - Contribution limits have increased for 401k, 403b and 457 plans to $17,000. The over 50 catch up is still $5,500.

The deduction phase out limits and Roth eligibility limits have also ratcheted up. For IRA deductions, income limits are $58,000 for singles, $92,000 for couples. Roth eligibility has risen to $110,000 for singles and $173,000 for couples. If you are not covered by a plan where you work, these limits are higher.

Additonal information on tax rates and other limits will be available in early 2012.