Treasury: Seniors Must Take Retirement Account Withdrawals This Year

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As a diabetic I have been told, my life expectancy is 10-15 years less than normal. All insurance companies use these decreased life expectancy figures and their actuaries have documented the actuals for decades. Why doesn't the IRS adjust the tables for IRA withdrawals, using this fact? This is discriminitory and totally unrealistic.

Stu of NY 11:19AM October 17, 2010

I am 83 and find I must stretch a badly depleted IRA
much more than planned. The fair solution would be to reduce the penalty for failure to withdraw in 08 to a nominal amount--5% and to measure the MRD from the value at close of 08 rather than 07..

john huffaker of PA 8:40PM January 11, 2009

AS my IRA shrank I saw how devastated the account would be if I had to make the usual annual withdrawal. My congressman was most favorable to a suspension but it will be a year late, and my already pitiful IRA is much worse off. why wasn't 2008 included? congress will have many questions to answer!

Miriam Null of CT 8:20AM January 10, 2009

The broad stock index S & P 500 has been cut in half since the end of 2007. To force seniors to take MRD in 2008 based on valuations at the end of 2007 is like a double penalty. Both congress and the treasury should have acted to prevent this double hit on senior citizens that have worked hard to save some wealth for retirement years. The melt down in equities is partly due to government policy (cheap money) and lack of regulations and for the government to not look out for senior citizens welfare is really bad.

James Farley of AZ 2:50PM December 29, 2008

We moved to the Houston area from New Jersey last year when my husband retired. We got more for our buck house-wise and the income tax is gone, but property taxes are basically the same and no one tells you about the horrible flood insurance required until you go to get a mortgage.

Hedy Vahabzadeh of TX 9:36AM December 22, 2008

Nice.. the Congress passes a bill that takes effect for 2009, and makes Treasury look like the bad guy? Wow.... take a stand, Congress!!! Was it sooooo hard to type 2008 into the bill in addition to 2009??

Linda Z of NH 7:02PM December 19, 2008