Early Withdrawals and Required Minimum Distributions in Retirement Accounts : Issues for Congress.

Format:

Book

Government document

Author/Creator:

Library of Congress. Congressional Research Service.

Language:

English

Subjects (All):

Economic policy.

Finance--Law and legislation.

Finance.

Pensions.

Projection.

Physical Description:

1 online resource (1 online resource (20 p), digital, PDF file)

monochrome

Place of Publication:

[Place of publication not identified] : [publisher not identified], 2011.

System Details:

text file

Summary:

This report is one in a series of updates. For the most recent coverage of this report series, please see 11-R4-0192b in the 2011 issue.

Explains tax penalties on early withdrawals from defined contribution retirement plans and individual retirement accounts (IRAs), and outlines required minimum distributions into retirement accounts. Discusses reasons offered in support of suspending tax penalties on defined contribution retirement plans and IRAs, as well as reasons for drawbacks. Estimates number of households that these proposals would impact, discusses borrowing from retirement plans as an alternative to withdrawals, and considers kinds of proposals offered to either suspend or eliminate early withdrawal penalty or required minimum distribution provision.

Notes:

Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed Apr. 2014). Reuse except for individual research requires license from ProQuest, LLC.

CRS Report.

Other Format:

Microfiche version: Library of Congress. Congressional Research Service. Early Withdrawals and Required Minimum Distributions in Retirement Accounts

Access Restriction:

Restricted for use by site license.