To amend the Internal Revenue Code of 1986 to increase the limits on the amount of nondeductible contributions to individual retirement plans and to adjust the amount of deductible contributions to individual retirement accounts for inflation.
Small Savers Retirement Enhancement Act - Amends the Internal Revenue Code to increase from $2,000 to $5,000 the annual limits on an individual's contributions to his or her individual retirement account (IRA).
Mandates annual indexing of the $2,000 deductible portion of such contributions.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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