New Bill Would Allow Troops to Make Penalty-Free IRA Withdrawals - KCBD NewsChannel 11 Lubbock

4/21/04

New Bill Would Allow Troops to Make Penalty-Free IRA Withdrawals

Reservists in the U.S. Armed Forces sent to the war in Iraq may soon able to make penalty-free withdrawals from their IRA's.

District 17 Congressman Charlie Stenholm and District 19 Congressman Randy Neugebauer both voted to approve the bill Wednesday. Lawmakers say the bill will provide some measure of financial relief to the 40% of reservists who took a pay cut when they were called to active duty.

The bill now goes to the Senate.

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