SENATE 1961117th CongressRead twice and referred to the Committee on Finance.

IRA Act of 2021

Last Action: 6/7/2021

Actions

2021-06-07Read twice and referred to the Committee on Finance.
2021-06-07Introduced in Senate

CRS Summary

As of 2021-06-07 (00)

Increasing Retirement Amount Act of 2021 or the IRA Act of 2021

This bill increases to $12,000 the retirement savings contribution limit for individual taxpayers not participating in an employed-sponsored retirement plan. It also increases the limit on catch-up contributions to retirement plans.

Subjects

Employee benefits and pensions
Income tax deductions
Income tax deferral
Inflation and prices

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