This month, Contributing Editor and EBN legal eagle Frank Palmieri helps you find the devil in the details of the federal suspension of the required minimum distribution provision in the Worker, Retiree and Employer Recovery Act. WRERA suspends for 2009 IRS rules that compelled retirees age 70 1/2 and older to take required minimum distributions from defined contribution retirement plans and IRAs.
Although the law's goal was reasonable and the solution simple, it leads to inevitable complexity. Why can't anything in this industry ever be simple?
Read what Frank advises here.
Showing posts with label WRERA. Show all posts
Showing posts with label WRERA. Show all posts
Monday, March 23, 2009
Friday, March 6, 2009
Overheard @: Pension relief 'killed two birds with one stone'
In a "Five Minutes With ..." podcast, Evan Inglis, chief actuary for the Vanguard Strategic Retirement Consulting group, talks with Associate Editor Lydell Bridgeford about the short- and long-term implications of the Worker, Retiree and Employer Recovery Act as it relates to pension funding relief for DB plan sponsors in light of the economic crisis.
Inglis says that as the law contained PPA technical corrections as well as provide breathing room for plan sponsors, it "killed two birds with one stone." Click here to download the audio, and click here to read the March EBN article, "Pension lifeline too short, experts say."
Inglis says that as the law contained PPA technical corrections as well as provide breathing room for plan sponsors, it "killed two birds with one stone." Click here to download the audio, and click here to read the March EBN article, "Pension lifeline too short, experts say."
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