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Required Distributions Suspended in 2009
01-04-2009 - If you're a retiree who would normally need to make minimum withdrawals from your retirement plan this year, help is on the way. The Worker, Retiree and Employer Recovery Act waives penalties for those age 701/2 who choose not to take the required distribution from their IRA or defined contribution plan during the 2009 calendar year. It is hoped the law will provide some financial relief and flexibility to seniors whose retirement accounts have been hit hard by the financial turmoil of 2008. |
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