Employer pension reform legislation has been proposed for several years. The Tax Relief Reconciliation Act of 2001 finally introduced long-awaited expansion provisions to laws that hadn't changed for quite some time. The most significant changes enacted in 2001 encouraged an increase in retirement saving starting in 2002. Congress, realizing that many Americans have not saved adequately for retirement, increased most of the contribution limits that are applicable to retirement plans. Nearly every type of retirement plan is affected.
Some of the different options for retirement savings include:
IRAs - Traditional & Roth
SIMPLE Plans
401(k) Plans
403(b) Annuities
457 Plans
Salary Reduction SEP Plans
Defined Contribution Plans in General
Defined Benefit Plans
