H.R. 7278 · 110th Congress
Retirement Fairness and Emergency Relief Act of 2008
- Stage
- In committee
- Sponsor
- C. Ruppersberger
- Introduced
- 2008-11-19
- Latest action
- 2008-11-19 · Introduced in House
Summary
Retirement Fairness and Emergency Relief Act of 2008 - Suspends for calendar 2008 and 2009 the beginning date for required distributions from certain individual retirement (IRA) plans.
Waives the 10% additional tax (penalty) under the Internal Revenue Code for early distributions from qualified retirement plans in the case of a qualified financial hardship distribution to an individual during calendar 2008-2009 of up to $15,000 per taxable year, as determined by the Secretary of the Treasury (including a qualified foreclosure distribution).