The Worker, Retiree and Employer Recovery Act (H.R. 7327) suspends the IRS requirement that minimum distributions be taken from the accounts of those that have reached age 70 ½.  No relief was offered for 2008.

This waiver applies to all defined-contributions plans including 401(k) and 403(b) plans.  It also applies to IRA’s.   The waiver is available for everyone regardless of their total retirement account balances.

For more information, please contact your RPA pension consultant.