A bill to amend the Internal Revenue Code of 1986 to increase IRA contribution limits for individuals without an employer retirement plan.
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.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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