A Quick Fix From Congress May Be Bad for Retirees
Washington Post (08/25/02) p.H5; Crenshaw, Albert B.

Both Congress and the Bush administration are looking for fixes for damaged retirement plans that will at least get them through the next election, and the latest idea is to raise or eliminate the age level at which retirees must begin making withdrawals from their individual retirement accounts, giving the market more time to rebound, according to this opinion piece. But such a change would not help those already withdrawing money, and the forced withdrawal only means paying taxes--and raising the age limit could hurt future retirees if the stock market drops again in the future. Removing the age limit could make individual retirement accounts into estate-planning devices for the wealthy, because they could make an heir a beneficiary, the commentary says.


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