Planning Opportunities in the Government's Response to the Economic Downturn

Gardner, Randy; Welch, Julie; Daff, Leslie
June 2009
Journal of Financial Planning;Jun2009, Vol. 22 Issue 6, p34
Academic Journal
The article offers information on the moves initiated by the government to mitigate the impact of economic downturn to various sectors in the U.S. The American Recovery and Reinvestment Act of 2009 (ARRA) is beneficial to majority of workers because those who earned more than $6,652 will receive a $400 credit if their adjusted gross income (AGI) is above $75,000. Moreover, the Worker, Retiree, and Employer Recovery Act of 2008 debarred the required minimum distributions from retirement accounts of individuals in 2009, wherein those with individual retirement accounts (IRA) and defined contribution plans will skip 2009, thereby increasing its five-year payout rule by one year.


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