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[Hank Chinaski]

Originally posted by ltl/fb
So, all of you "hey I have money so screw the rest of you" people will be happy to know that the tax stuff that was passed in 2001 (EGTRAA) effectively did away with the income cap on making Roth contributions for people who have a say in the design of their employer's retirement plan (or who are their own employer, though I'm not sure whether you could do this in a SIMPLE 401(k)) starting in 2006. (Roth feature can be added as a feature of employer-sponsored plan; no income limit applies.) (There are some limits, sort of -- it's subject to the will-be-in-2006 $15,000 limit that usually applies deferrals, and nondiscrimination testing so that if your lower-paid people don't defer enough, higher-paids can't contribute the full $15,000. But still, they almost certainly can get more in this way than they could if they were eligible to have a stand-alone Roth IRA.)

Congrats! Keep breeding -- I want your kids to grow up in the fucked-up, hellish world that is being created.

Happy Friday.

What is your native language?