HERO Act Expands IRA Eligibility for Deployed Soldiers

Under the Heroes Earned Retirement Opportunities (HERO) Act, Soldiers can now count Tax-free combat pay when determining whether they qualify to contribute to either a Roth or traditional Individual Retirement Account (IRA).Previously, Soldiers whose earnings come entirely from tax-free combat pay were generally barred from using IRAs to save for retirement. For additional information, visit: http://www.army.mil/-news/2006/12/05/845-hero-act-expands-ira-eligibility-for-deployed-servicemembers/ or www.irs.gov and enter keyword: military.