TITLE

Time to change 401(k) rules

PUB. DATE
September 2008
SOURCE
Las Vegas Business Press (10712186);9/15/2008, Vol. 25 Issue 37, pP28
SOURCE TYPE
Periodical
DOC. TYPE
Editorial
ABSTRACT
The author argues that changes on mandatory withdrawals for people with 401(k) and traditional individual retirement accounts (IRA) are needed. The author cites the case of Bobby Brown, a 78-year-old retired telephone worker in Fort Worth, Texas who is forced to withdraw his money out of his IRA account due to IRA-mandated rules. He cites two changes that must be implemented: first, rule makers need to re-examine the minimum age for withdrawals and second, the penalties imposed by the U.S. Internal Revenue Service (IRS).
ACCESSION #
34562809

 

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