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The legislation includes a provision that would increase
the annual limit on IRA contributions in stages from
$2,000 to $5,000. This could substantially increase
the assets you are saving for retirement through your traditional
or Roth IRAs. The legislation also includes provisions
to increase the contribution limits for 401(k),
403(b) and 457 plans in stages from $10,500 to
$15,000 as well as other potentially important
changes which could benefit you in your quest for financial
independence during your retirement years. Keep a
watchful eye to see if the pending legislation becomes law.
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