IRA sunset provision

**m3racer** · 06-20-2008, 07:11 PM

What is it?

**sweeps** · 06-20-2008, 07:29 PM

Are you referring to IRA contribution limits? I think it's unlikely that Congress would let them return to 2001 levels.

**MonkeyMama** · 06-21-2008, 05:19 AM

Off the top of my head, I am not sure anything (IRA related) is set to expire in 2010. I thought they had extended all the IRA provisions.

Contribution Limits will adjust with inflation after 2010.

**aurielle** · 06-21-2008, 07:22 AM

Originally posted by sweeps View Post

Are you referring to IRA contribution limits? I think it's unlikely that Congress would let them return to 2001 levels.

Yep that's what I'm talking about. It would be sad to be able to only contribute- what was it in 2001, $2000/yr (I think). I'd have to revamp part of my retirement planning if that happens.

Monkeymama, as far as I can tell, the Pension Protection Act did away with sunset provisions only in certain retirement accounts and not with all IRA's as a whole.

**MonkeyMama** · 06-21-2008, 08:26 AM

IRAs (Traditional & ROTHs) are set to stay at $5k going forward, and to increase with inflation. These provisions are not set to sunset.

Though congress reserves the right to change that at any time - hehe. I personally don't pay much attention beyond what the tax law is for this year or next. So that is my only caveat.

I don't see any reason why this would change though, any time soon.

IRA sunset provision