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What is EGTRRA?

Updated: 8/16/2019

Wiki User

∙ 15y ago

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EGTRRA-- Economic Growth and Tax Relief Reconciliation Act.

Basically, this act was passed to allow individuals to put money on the side, as well as to increase the limit that base benefit off. It lowered taxes and simplified retirement and qualified plan rules such as 401k and 403b.

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Related questions

What year did catchup over 50 start in 401K plans?

Catch-up contributions for 401(k) plans for individuals age 50 and over were introduced in 2002 as part of the Economic Growth and Tax Relief Reconciliation Act (EGTRRA). This allowed older individuals to contribute additional funds to their retirement savings accounts to help boost their nest egg before retirement.

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