Airline Pilots Retirement Security Act

Airline Pilots Retirement Security Act

This bill allows catch up contributions to tax-exempt retirement plans for employees subject to a federally-mandated retirement age, in the three years prior to and including such retirement age (e.g., airline pilots). The amount of such contribution is twice the current allowable amount.

The bill also modifies the cost-of-living adjustment to the defined contribution plan limit of a tax-exempt employer retirement plan.