H.R. 5558 — Retirement Savings and Security Act of 2002

Summary

Retirement Savings and Security Act of 2002 - Amends the Internal Revenue Code to accelerate, to 2003, increases to: (1) the $5,000 deductible IRA limit; and (2) the $15,000 elective deferral and the State, local, and tax-exempt organizations' plan limits, the $10,000 SIMPLE plan limit, and catch-up contribution limits.

Increases incrementally, from the current of age 70 1/2 to age 75 starting in 2007, the required beginning date for distributions from qualified plans.

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Legislative Actions

2002-10-07
Introduced in House
2002-10-07
Introduced in House
2002-10-07
Referred to the House Committee on Ways and Means.
2002-10-08
Committee Consideration and Mark-up Session Held.
2002-10-08
Ordered to be Reported (Amended).
2002-10-10
Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-733.
2002-10-10
Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-733.
2002-10-10
Placed on the Union Calendar, Calendar No. 457.

Retirement Savings and Security Act of 2002

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