[May 15, 2002]

On May 8, 2002, California Governor Gray Davis signed legislation bringing state tax laws into conformity with federal tax laws that enacted new pension reform provisions, which became effective in January 2002. The new federal and state laws increase employee contribution and benefit limits for employer-sponsored retirement plans and expand employees' rollover options.

Note to residents of New Mexico-New Mexico state tax laws conform to all provisions of the federal laws effective January 2002.

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