From Collider:
It’s been far too long since we’ve had a good Star Wars: Episode VII rumor. Today, we’ve learned of an intriguing plotline that may feature in the upcoming sequel. So far, plot details have been practically non-existent as the search for a director continues. However, screenwriter Michael Arndt (Toy Story 3) was handling the screenplay, and presumably he had some direction from producers Kathleen Kennedy and George Lucas, although Lucas says he “doesn’t really have much to do.”
I wouldn't mind going beyond the existing timeline. 140ish years after ep4.