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elabyHoly CRAP, something GOOD happened today. *was convinced this was not possible*
Pension Protection Act signed into law, including extending rights to GLBT families
Pretty much what this means for GLBT rights is that now "non-spouse beneficiaries" like domestic partners (and siblings, etc.) can are allowed to keep their partner's retirement plan benefits in the event that their partner dies. Before this, they were required to take the entirety out in a lump sum and were subject to tax penalties of doom. It also means that non-spouse beneficiaries can get access to this money in the case of "certain medical or financial emergencies."
I'm really happy to see a step forward instead of just a defeat of a step backward, as grateful for those as I seriously am.
Pension Protection Act signed into law, including extending rights to GLBT families
Pretty much what this means for GLBT rights is that now "non-spouse beneficiaries" like domestic partners (and siblings, etc.) can are allowed to keep their partner's retirement plan benefits in the event that their partner dies. Before this, they were required to take the entirety out in a lump sum and were subject to tax penalties of doom. It also means that non-spouse beneficiaries can get access to this money in the case of "certain medical or financial emergencies."
I'm really happy to see a step forward instead of just a defeat of a step backward, as grateful for those as I seriously am.
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Date: 2006-08-17 07:58 pm (UTC)no subject
Date: 2006-08-18 07:24 pm (UTC)no subject
Date: 2006-08-19 12:15 am (UTC)