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Great news! The Pension Protection Act of 2006 was signed into law by President Bush last month. Designed to encourage
greater retirement savings, the bill comes at a time when the number of Americans with adequate retirement savings
continues to shrink.
According to the Employee Benefit Research Institute, a majority of workers 45 and older have less than $50,000
in savings. (Note to Dad and Mom: better step it up or lock in rates now at the local Extended Stay. The pension
provided by the International Brotherhood of Tax Newsletter Writers - Local 599 is not going to be enough to support
all of us.)
Stay tuned next week for specific highlights from the bill.
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