It is someone who is over age 50. Congress is concerned that individuals in that age bracket may not have saved enough towards retirement and with social security having its own problems, the new legislation will allow these individuals to save even more. The combination should be a great help to people over 50 who have the financial capacity to increase their retirement contributions. In summary, this legislation could be beneficial to just about everyone. So call your senator today and then start putting away some cash so that you can increase your retirement contributions if it becomes law.
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