Breaks for Those in Retirement, or Gaining on It
New York Times (02/16/03) ; Cuff, Dan

This article discusses final regulations issued by the Internal Revenue Service that allow people to invest more in their retirement savings accounts and reduce mandatory minimum withdrawals from retirement accounts for those over age 70 1/2. In addition to raising contribution limits for IRAs, the 2001 tax law also includes provisions for "catch up" contributions for people over age 50. If President Bush's latest proposals are passed, most pensions, 401(k) plans, and IRAs would be replaced by new tax free Retirement Savings Accounts and Employer Retirement Savings Accounts.


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