HR 7278 · 110th Congress · Labor and Employment

Retirement Fairness and Emergency Relief Act of 2008

Introduced 2008-11-19· Sponsored by Rep. Ruppersberger, C. A. Dutch [D-MD-2]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2008-11-19)

Plain Language Summary

[AI summary unavailable — showing source text] 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).…

Summarized by Claude AI · Non-partisan · For informational purposes only