By Josh McCann
Friday, December 22, 2006
Older Americans have a new opportunity to share the wealth of their retirement savings with charity.
While that trial run is limited, philanthropic leaders are hopeful Congress will expand it in the future. The Pension Protection Act of 2006, enacted in August, included a provision long sought by philanthropic organizations. The law allows holders of Individual Retirement Accounts who are at least 70 and a half years old to make direct charitable transfers of up to $100,000 per year."