Washington (Oct. 7, 2002) -- The Treasury Department and the Internal Revenue Service have released Revenue Ruling 2002-62 that will help taxpayers preserve their retirement savings when there is an unexpected drop in their value.
Some taxpayers began receiving fixed payments from their IRA or retirement plan based on the value of their account at the time they started receiving payments. Those taxpayers may now switch - without penalty -- to a method of determining the amount of their payments based on the value of their account as it changes from year to year.
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