MAY 14, 2001


 
HEADLINES





  Of Interest
Committee Considers Simplifying Retirement Plan Distribution Rules

The Senate Finance Committee is considering legislation to simplify retirement plan distribution rules by removing references to half-years. 

For instance: under the current code, retirement plan benefits must begin by April 1st of the calendar year following the year in which the retiree turns 70½, and the retiree may not receive benefits before reaching the age of 59½. 

These half-year age requirements are confusing for both retirees and employers because they requires them to track dates other than dates of birth.

Source www.elderweb.com 5-4-2001