ICI Supports Measures to Simplify IRA Distribution Rules

Washington, DC, April 24, 2003 - The Institute strongly supports measures to simplify the rules governing required minimum distributions from IRAs. In a recent comment letter, the Institute urges the Treasury Department and the IRS to revise a rule that arbitrarily discriminates against certain IRA beneficiaries solely on the basis of when an IRA owner dies and how quickly separate accounts are established after the owner's death.