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H.R. 2724

BillFederalHouseIn Committee
Retirement Savings for Working Americans Act
About This Bill
Committee
Latest Action · June 14, 2007
Referred to the House Committee on Ways and Means.
Congress
110th (2007–2009)
Introduced
June 14, 2007
Cosponsors (3)
2D 1R
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Summary

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Retirement Savings for Working Americans Act - Amends Internal Revenue Code provisions relating to the tax credit for retirement savings contributions (saver's credit) to: (1) require the Secretary of the Treasury to deposit saver's credit amounts directly into the designated retirement account of the taxpayer; (2) expand income eligibility levels for the saver's credit; (3) allow taxpayers that contribute to a qualified tuition program or a Coverdell education savings account to claim such contributions as retirement savings contributions; and (4) adjust the saver's credit maximum contribution amount for inflation beginning after 2007.

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