Pension Relief
Date:
December 23, 2008
Who:
IRS
Policy Area:
Financial Sector Policy
Economic Target:
Consumers
Action Type:
Regulatory Change
Maximum Amount:
$2.51 billion
Deficit Impact:
$2.51 billion The Worker, Retiree, and Employer Recovery Act waives rules requiring individuals to make an annual withdrawal from their retirement accounts for one year, and reduces funding requirements for certain defined pension benefits.
Notes:
Max Amount and Deficit Impact represent ten year numbers. Program makes money is year one due to timing shift.