from my state – literally and figuratively – and other places. i'm not in florida any more, but i haven't given up the sunshine.

8.17.2006

baby steps

today the president held a ceremony to sign new pension legislation into law. many of us are too young to have paid attention to this bill – which literally, barely made it under the wire for passage this session. for the most part, my generation either isn’t thinking yet about retirement or already knows that a corporate-funded pension is a right of generations past. media concentrated heavily on portions of the bill that will enable hurting industries to pay out earned benefits to thousands who have counted on and earned pensions.

hrc applauds a couple of details in the bill that are important to the queer community, rights previously reserved for legal spouses and dependents:

if the plan holder dies, the new law allows non-spouse benefactors to transfer retirement benefits rather than having to immediately cash out and face daunting tax penalties; and

if a non-spouse beneficiary has certain medical or financial emergencies, the plan holder may draw on retirement funds for help.

may not seem like much to some. but every little bit helps.

3 Comments:

Blogger Cindy said...

Actually, it seems like quite a lot, especially given that no provisions have previously existed. All positives steps are just that, positive.

Glad to see you are back actively posting. Clearly we've all missed you!

8/18/2006 01:22:00 PM

 
Blogger Estelle said...

Yes, every little bit helps. Now if only, if only... we could get SS benefits. I would cut off my pinky to secure SS benefits. Heck, I might even be willing to part with my ring finger too.

8/22/2006 10:34:00 AM

 
Blogger Pout said...

Ok. I'm a financial planner and will be happy to help out anyone who needs assistance in interpretting these changes! There are many ways to get around laws that are in place. Just takes creative planning.

Heather

8/24/2006 09:01:00 PM

 

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