More information on Pension Protection Act

Jill, a 55 year-old business professor.
Consulting income: $80,000 annual retainer.
Target retirement age: 60.
Jill was delighted that she could do just want she wanted to do. The Pension Protection Act lets Jill contribute her entire $80,000 income (net Schedule C profit, after adjustment for self-employment tax) to her defined benefit plan each year until she retires. At that time, she'll roll over the money to an IRA, continuing to defer taxes until money is withdrawn.