IRS simplifies rules on withdrawing retirement money
Article Abstract:
The IRS has simplified regulations governing the withdrawal of retirement funds. The new rules provide a simple chart for determining life expectancy resulting in smaller minimum distributions for most people and give greater flexibility in the selection of a beneficiary. The IRS implemented the changes since it wants to make sure that it collects taxes it is owed on the distributions. However, the 50% excise tax for failing to comply with the rules will still be enforced.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Company cost-cutting hits 401(k) plans; Matching money being trimmed sometimes halted
Article Abstract:
This article describes how many companies are reducing their matching contributions to 401(k) savings. Instead of fixed matches, which are typically 50 cents for each dollar up to 6% of salary, some companies are shifting to variable matches.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Energy giant's disaster devastates 401(k) plans
Article Abstract:
Enron Corp's employee 401(k) plans have been devastated by the company's failure, since these stock portfolios were comprised of Enron stock.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Online course lets the isolated bring their medical skills up to date. Game draws a range of protests
- Abstracts: Kodak changes focus to link its traditional, digital services. BBDO may create up to 24 ads for Super Bowl
- Abstracts: Chips Made to Order And a Forecast That Sees A New Order of Business. From Taiwan, a fear of China technology
- Abstracts: A popular port for computers users; don't get comfortable with U.S.B. technology, there are new and faster port connections just around the corner