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WASHINGTON — Advocates say the recent signing of the Pension Protection Act will allow Americans to contribute more to their individual retirement accounts and have other incentives to save.

On Aug. 17, President Bush signed the legislation, which includes a permanent extension of the Retirement Savings Tax Credit or Saver’s Credit and higher contribution limits for individual retirement accounts. The credit can be used by low- and moderate-income savers to offset up to $1,000 contributions made to traditional and Roth individual retirement accounts or to other qualified employer-sponsored retirement plans such as 401(k)s, 403(b)s, annuities, SIMPLEs and SEPs.

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