P.L. 109-227, The Heroes Earned Retirement Opportunities Act

  • This item is from the 109th Congress (2005-2006) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

H.R. 1499, enacted as Public Law 109-227, will allow members of the armed forces serving in a combat zone to make contributions to their individual retirement accounts (IRAs) even if the compensation on which such contributions are based is excluded from gross income. The change applies to contributions to both traditional and Roth IRAs. It will also apply retroactively to 2004 and 2005. For those taxable years, contributions to IRAs based on such compensation, made within a three-year period (beginning with the enactment of this legislation), are to be treated as if made on the last day of such taxable year.

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