The Economic Growth and Tax Relief
Reconciliation Act (EGTRRA 2001)
EGTRRA 2001 is a U.S. tax law, effective for tax years beginning 2002, with some of the most important changes to retirement plans, including increased contributions and deductibility limits for IRA and employer-sponsored plans, and expanded portability rules for retirement plans in general. EGTRRA also increased the estate-tax exclusion and increased the generation-skipping transfer-tax exemption amounts.
Many of the changes brought about by EGTRRA were scheduled to expire in 2010. The Pension Protection ACT 2006 (PPA 2006) has since made permanent the increased IRA and 401(k) deferral limits, the higher contribution and benefit limitations for qualified plans, the higher compensation limit, catch-up contributions, Roth 401(k) provision, etc.