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Closeup view of the national's capitol buildingThe $1.9 trillion economic stimulus package, which passed the House on Feb. 27, freezes retirement plan contribution limits starting in 2031.

The bill, H.R. 1319, the American Rescue Plan Act of 2021, would freeze the annual cost-of-living adjustments for overall contributions to defined contribution plans and for the maximum annual benefit under a defined benefit plan.

The measure would be effective for calendar years beginning after Dec. 31, 2030, “[i]n what can only be called a budget gimmick,” said Brian Graff, president and CEO of the American Retirement Association, a lobbying group, in a recent LinkedIn post.

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Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. You can reach her at [email protected] On twitter: @Think_MelanieW

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