The recently passed Worker, Retiree and Employer Recovery Act of 2008 provides a one-year suspension of the required minimum distribution rules for 2009. This means that if you have reached age 70 ½ (the age at which you generally must start minimum distributions), or you have inherited a plan, you will not be required to take a distribution for 2009. (If you turned 70 1/2 in 2008, however, you must still take your 2008 required distribution, even though you have until April 1, 2009 to take it.)

This temporary suspension applies to Individual Retirement Accounts (IRAs), defined contribution retirement plans (such as 401(k) and 403(b) plans), 403(a) plans, and 457 plans.

This relief applies to distributions to employees and IRA owners and after-death distributions to beneficiaries.

The idea behind the temporary suspension of minimum withdrawals is that with the recent across-the-board reductions in the value of retirement plans, many people will want to let the money that's left in their plans stay in the tax-deferred accounts.

Note that the Act provides relief only for 2009 distributions. You must resume required distributions in 2010.