Bill Would Extend Waiver of Required Minimum Distribution Rules
Rep. Joe Sestak (D-Pa.) has introduced a bill (H.R. 4421) that would extend the waiver of required minimum distribution rules for certain retirement plans and accounts through 2010. On December 23, 2008, former President Bush signed into law the Worker, Retiree and Employer Recovery Act of 2008 which, among other things, waived the minimum distribution requirement for 2009 from most employer-sponsored plans. H.R. 4421 would amend sections 401 and 402 of the Internal Revenue Code to extend this waiver an additional year.
This bill has been referred to the House committee on Ways and Means.
Photo credit: Kirby Hamilton
