Business life: My finance news blog

What is Washington, D.C. cooking up in response to the retirement savings crisis? With a new administration in town, there’s a good chance some reforms may take place. Here’s a look at four of the most discussed proposals:

President-elect Barack Obama has proposed temporarily dropping the 10% penalty for hardship withdrawals from an IRA or a 401(k) for amounts up to 15% of your plan or $10,000.

For those age 70