Will we call it TIPRA?

Those of us that live in ERISA Land tend to speak in acronyms. Sometimes to the total incomprehension of our clients. The recently passed  tax bill, The Tax  Increase Prevention and Reconciliation Act, will also engender one. The resulting acronym will, no doubt, appear on attorney B. Janelle Grenier’s Benefit Acronym Lexicon, another addition to the 160 currently on her list. 

More importantly, there are two benefit provisions as part of TIPRA (or whatever). One involves changes to the income limitations on Roth IRAs, and the  the other imposes an excise tax on retirement plans that are parties to prohibited tax shelter transactions. More about both after reading the fine print.