Required Minimum Distribution Suspended For 2009

On December 23, 2008, President Bush signed the Worker, Retiree, and Employer Recovery Act of 2008 (H.R. 7327) (the “WRER Act”), which provides that owners and beneficiaries of IRAs and other defined contribution plans who are required to take required minimum distributions (“RMDs”) from their plans in tax year 2009, will generally be able to leave their money in their plans without suffering any penalty for failure to withdraw. The normal rules are still in effect for 2008.