Planning to Retire

Senate Passes Bill to Alter Retirement Account Rules

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December 12, 2008 RSS Feed Print
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A bill that would allow seniors to avoid drawing down their savings from depleted retirement accounts sailed through the Senate yesterday. The legislation temporarily removes the penalty for people age 70 1/2 and older who fail to withdraw a required minimum amount from their retirement plan or IRA in 2009. Companies will also get a break on pension funding requirements. The bill was passed by the House on Wednesday.

Here’s a look at how the legislation would affect retirees and companies. 

Next up: The bill goes to President Bush. He is expected to sign.

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Give an incentive for New York State employees 55 years with 20 years of service to retire without a penality.

What make more jobs at a lower rate of pay and benefits.

carol arena of NY 12:01PM August 18, 2009

72T's also need to be addressed. retired people under 59 1/2 are locked onto withdrawals for firve years. With looses to our portfolio's we need relief and the ability to withdraw less or none.

Mary O'Leary of MA 3:02PM December 12, 2008

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