Thursday, January 22, 2009

Required Distribution Update

Good News! On December 23, 2008, President Bush signed the Worker, Retiree and Employer Recovery Act of 2008, giving a one year moratorium on Required Minimum Distributions (RMDs). This Act applies to both retirement plan participants over the age of 70 ½ and beneficiaries of inherited retirement accounts.

In the past, we have automatically taken the RMDs in November for many of our clients. This year, however, we will not be doing so. During your meetings throughout the course of the year, David, Dustin and Michelle will discuss this issue further and address any questions you may have.