House Votes To Ease Pension Rules In Down Economy

Law360, New York (December 11, 2008, 12:00 AM EST) -- The U.S. House of Representatives passed a bill Wednesday that would ease pension plan rules for both senior citizens and businesses in light of the recent economic crisis.

The bill, known as the “Worker, Retiree and Employer Recovery Act,” passed the House by a voice vote the same day it was introduced. Similar legislation has been introduced in the Senate.

Current regulations stipulate that individuals over the age of 70.5 must make a minimum withdrawal every year from their defined contribution retirement plans, such as 401(k)s,...
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