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Here's the 'skinny':

"...IRA contribution limits
The contribution limits for both traditional and Roth IRAs will increase from the current $2,000 annual limit to $5,000. This increase will be phased in over several years. Here's how the contribution limits will look:

2002 through 2004: $3,000 max contributions
2005 through 2007: $4,000 max contributions
2008: $5,000 max contribution

After 2008, the maximum contribution amount will be adjusted for inflation.

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