<nobr>Dec 2, 2005</nobr>

ERIC and Other Associations Thank Committee Chairman For Bill Provision Moving EGTRRA Improvements Forward

ERIC, in a joint industry letter to House Ways and Means Committee Chairman Bill Thomas (R-CA), thanked the chairman for including in the committee’s mark-up of HR 2830, a provision that will make permanent pension and Individual Retirement Account (IRA) improvements in the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001.

The EGTRRA pension improvements enable Americans to save more in employer plans and IRAs, ease portability among various plans, and provide significant administrative relief to employers who sponsor plans. Also, the provisions include measures such as the Saver’s Credit, which benefits low-income savers, and catch-up contributions that permit older workers to save more under the plans.

The EGTRRA provisions are set to expire at the end of 2010 unless Congress acts to make the improvements permanent.

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ERIC Thanks Committee Chairman For Bill Provision Moving EGTRRA Improvements Forward

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