Survey: Tax Bill Will Boost Retirement Savings
Electronic Accountant (06/15/01) Vol. 24, No. 6 p.16; Long, Rachel

A new survey by Strong Capital Management indicates that 80 percent of investors intend to contribute more to their retirement plans due to savings provisions in the new law. Beginning next year, contribution limits for IRAs and 401(k)s will increase gradually through 2008, and taxpayers over age 49 will be able to contribute more. The survey found that 56 percent of respondents plan to use the catch-up provisions. Strong director of retirement planning Steve Schneider says that the provisions and increased limits are making people take notice, and he predicts that the changes will have a major impact on retirement savings.


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