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The Dallas Morning News Personal Finance Column.
Knight Ridder/Tribune Business News, October, 2002
By Pamela Yip, The Dallas Morning News Knight Ridder/Tribune Business News
Oct. 14--Who would have thought Uncle Sam would step forward to make life easier for investors burned by the tumbling stock market?
The Treasury Department and the Internal Revenue Service recently released a ruling that will help some taxpayers preserve their retirement savings when there's an unexpected drop in their value.
The rules, which take effect immediately, permit people to switch the amount of payments they get from their Individual Retirement Accounts and 401(k) retirement accounts based on their value from year to year, without penalty.
"Taxpayers have worked hard to build their retirement savings," said Pam Olson, assistant secretary for...
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