The House and Senate have passed a resolution that would suspend MRD age 70 1/2 distributions in 2009.

The Senate has passed, by unanimous consent, a bill (HR 7327) that will ease pension-funding rules for businesses and individuals. The House passed the measure last night. It will now be sent to President Bush for his signature.

People have lost trillions of dollars from their retirement accounts over the past few months, said House Education and Labor Committee Chairman George Miller, D-Calif., said. The bill should "provide important relief to seniors who may face a steep tax if they do not make a withdrawal from their depleted retirement accounts."