House Moves to Make Increased Defined Plan Limits Permanent

The House has voted to make the increased limits on employee and employee contributions to defined contribution plans permanent. Under current law, the increased limits as part of the 2001 tax bill would expire in 2010. Senate action on the proposal is at best uncertain, however, with the number of legislative days dwindling, budget deficits looming, and a large agenda of other issues that need action.