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S. 1961 117th Congress Senate

IRA Act of 2021

Official title: A bill to amend the Internal Revenue Code of 1986 to increase IRA contribution limits for individuals without an employer retirement plan.

Introduced: June 7, 2021 Introduced by: John Kennedy Republican · Louisiana See on congress.gov
Taxation Employee benefits and pensionsIncome tax deductionsIncome tax deferralInflation and prices
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 7, 2021
Read twice and referred to the Committee on Finance.
Jun 7, 2021
Introduced in Senate
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 Latest action June 7, 2021

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Increasing Retirement Amount Act of 2021 or the IRA Act of 2021

This bill increases to $12,000 the retirement savings contribution limit for individual taxpayers not participating in an employed-sponsored retirement plan. It also increases the limit on catch-up contributions to retirement plans.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1961: IRA Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-1961/
MLA
"S. 1961: IRA Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-1961/.
Bluebook (legal)
S. 1961, 117th Cong. (2026), https://openamerica.io/bill/117-S-1961/.
Markdown link
[S. 1961: IRA Act of 2021](https://openamerica.io/bill/117-S-1961/)
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