Retirement Protection Act Proposed in House
Representatives David Schwikert (R-AZ) and Byron Donalds (R-FL) have introduced H.R. 8579, the Retirement Protection Act. The bill proposes modification of the saver’s credit by replacing the three-tier formula with a single 50 percent credit percentage on contributions up to $2,000, with phase outs beginning at certain AGI thresholds. The proposal also provides for a one year $4,000 temporary increase in retirement contribution limits.