60 PLUS CHAIRMAN PRAISES EFFORT TO ‘DE-WEAPONIZE’ IRA CODE
ALEXANDRIA, Virginia (November 1, 2017) – 60 Plus Chairman and Founder James Martin Thursday issued the following statement in support of H.R. 4189, introduced by Rep. Mike Kelly (R-PA):
“Seniors and their families can take heart that Congressman Mike Kelly is taking action to make retirement savings laws easier to understand. His bill will go a long way toward simplifying the arcane federal tax code involving Individual Retirement Accounts and easing penalties for honest mistakes by people approaching retirement age.
“IRAs and other retirement savings plans are the cornerstone of financial planning for tens of millions of Americans, but the tax laws surrounding IRAs are so complicated, it’s not hard to make an honest mistake and be hit with fines by the IRS. Congressman Kelly has made a bold move to de-weaponize the IRS and give families saving for retirement a simpler, easier to understand set of rules to play by.
“As a member of the non-partisan Coalition For American Retirement, 60 Plus and its millions of members are keenly aware of the problems facing retirees and understand the challenges we face in planning for retirement. Mike Kelly is one of the best in Congress when it comes to working on behalf of elderly constituents, something for which I offer my own heartfelt thanks.”