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President Bush Signs Pension Relief Bill
U.S. News & World Report 
Dec. 23, 2008
Excerpt: The bill allows retirees to avoid making withdrawals from depleted 401(k)s, IRAs, and 403(b)s in 2009. But seniors over age 70 ? need to take withdrawals this year by December 31 or face an excise tax of 50 percent of the amount that should have been withdrawn plus income tax. The Treasury Department and Internal Revenue Service also considered suspending the penalty for 2008, but ultimately decided against it. Businesses will also get temporary relief from their pension funding requirements under the Pension Protection Act.
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