Ruppersberger to Introduce Legislation to Help Struggling Families
In These Tough Economic Times

(Washington, D.C.)- Congressman C.A. Dutch Ruppersberger (D-MD) will introduce legislation to help struggling families in these tough economic times. 

The Retirement Fairness and Emergency Relief Act of 2008, H.R. 7278, would:
• Allow families experiencing financial hardship to withdraw money from their retirement account to pay for important expenses like rent, mortgage payments, utilities, or groceries without paying the standard ten percent penalty.
• Allow seniors to delay mandatory withdrawals from their retirement accounts.  Currently, seniors are required to start taking money out of their 401(k)s at age 70 ½.  Many seniors’ nest eggs have taken a massive hit, and making mandatory withdrawals now would mean a significant financial loss.  This will allow them to build on and replenish their nest eggs as the economy rebounds.      

The Congressman will discuss this legislation at a press conference on Monday, December 8, 2008, in Towson.   

WHAT: Congressman Ruppersberger to Introduce Legislation to Help Struggling Families In These Tough Economic Times       

 WHO:  Congressman C.A. Dutch Ruppersberger (D-MD)
   Seniors
   Families

  WHEN: 10:30 a.m., Monday, December 8, 2008

WHERE:  Edenwald
The Auditorium 
800 Southerly Road
Towson, Maryland 21286 

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