Open letter to Senators and Congressmen

Thursday morning last week, we awoke to find the stock markets opening down over 2% again, and 401k accounts down 30% or more.

Since this is directly due to the policies of the current administration, and no fault of senior 401k investors, I believe it is time for you, my Representative and Senators, to introduce legislation to waive the required withdrawal of a given percent of 401k accounts for those over 70 1/2.

Seniors living on fixed incomes are suffering from 8.6% inflation, $5.00+ gasoline prices, 30% losses to their 401k’s and food costs up over 11%, all due to the current government policies.

They should not be further punished with a policy requiring them to lock in losses to their 401k’s.

H.D. Palmer