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Best WRERA headline

31216302From RIA’s excellent riacheckpoint.com service:

“Flawed technical correction addresses non-existent rule regarding reservists called to active duty after September 11, 2001.”

The Pension Protection Act provided a new exemption from the 10% early distribution penalty tax for reservists called to active duty after September 11, 2001, and before December 31, 2007. Rightfully, Congress was concerned about those reservists who may have been called to active duty on December 31, 2007. So the Worker, Retiree and Employer Recovery Act of 2008 includes a provision that includes reservists called to active duty on or before December 31, 2007.

Oops… Congress forgot that they had already extended the provision to reservists called to active duty on or after December 31, 2007, as part of the HEART Act of 2008… stay tuned for a technical correction to the technical correction…

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