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.

Public Finance Activities, Government regulation (cont), Internal Revenue Service

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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.

Business, Brief Article

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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.

Natural Gas Distribution, Gas transmission and distribution, Gas Transmissn & Distributn, Gas industry, Enron Corp., ENE

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