[Vaquero]

so will our current socialist or future marxist president do the same for my 401Ks???

[Ernest_at_the_Beach]

People 70-1/2 years old or older would not have to take distributions from their retirement plans as required under current law, allowing them to keep savings intact and avoid a bear-market tax hit.

Heard about this yesterday ...need more details though....

[2ndDivisionVet]

So we’re a full-blown socialist state now? Why not just keep President Bush on and scrap Obama taking obver?

[2ndDivisionVet]

So we’re a full-blown socialist state now? Why not just keep President Bush on and scrap Obama taking over?

[Ernest_at_the_Beach]

From :

Pension relief bill approved in House

**********************EXCERPT****************************

Friday, 12.12.08

Finally, the bill suspends for 2009 the law under which senior citizens who have reached age 70 ½ must withdraw a minimum amount from their retirement plan or IRA.

Those that don't are subject to a 50 percent excise tax penalty on the amount that should have been withdrawn.

People have lost trillions of dollars from their retirement accounts over the last few months, House Education and Labor Committee Chairman George Miller, D-Calif., said.

The bill should ``provide important relief to seniors who may face a steep tax if they do not make a withdrawal from their depleted retirement accounts.''

I wanted it for 2008 also....

[stevem]

Our concerns with the legislation remain, but we do believe that, in this current economic environment and current economic circumstances, that the benefits of the legislation outweighed our objections," he said.

There isn't any other way to say it. These people are insane.

[Old_Grouch]

This article seems to just talk about multi-employer plans. These are usually union plans, which are used by union employees across multiple companies. So is this just another union bailout?