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EXECUTIVE SUMMARY: Sec. 201 of H.R. 7327 suspends the 50% penalty for failure to take a required minimum distribution, for 2009, for distributions from defined contribution plans.  Normally, if any individual passed his required beginning date, or any plan beneficiary, fails to take a required distribution during any year, the penalty is 50% of the amount that should have […]

Tens of thousands of small-business owners and sole proprietors may have invalid Keogh plans, and that a failure to fix the problem could prove to be very costly to them and to advisers.

Many people seem unaware how useful IRAs can be as savings vehicles Make no mistake about it: The IRA is America’s savings vehicle of choice. In 2007, assets in such accounts totaled $4.75 trillion, more than any other type of retirement account, according to an Employee Benefit Research Institute study published Wednesday. That’s the good […]