Bergman Proposes Financial Protection for Seniors During COVID-19 Market Impact
Today, Rep. Jack Bergman announced new legislation to protect Seniors’ retirement accounts as COVID-19 continues to drag down the stock market. Under current law, Seniors age 72 and older must take required minimum distributions (RMDs) out of their traditional IRAs and other tax-deferred retirement savings plans. Seniors face a 50 percent tax penalty on the required withdrawal…