To: Congress

Suspension of RMD for 2020

Thanks to Speaker Pelosi, this request has been incorporated into the CARES Act.

Declare a moratorium for seniors who have to withdraw a retirement minimum distribution for 2020.

Why is this important?

RMD is based on the amount in your retirement account as of December 31, 2019. My account, due to the decline in the stock market, is now down 40% from 2019. Withdrawing, based on last year’s total, would be a hardship for seniors. This same moratorium was used during the recession of 2009.

Updates

2020-04-13 10:09:10 -0400

Petition is successful with 2 signatures

2020-04-10 17:37:59 -0400

Thanks to Speaker Pelosi, this request has been incorporated into the CARES Act.