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In today’s rapidly changing society and as the human race advances through generations we observe many changes that need to be made in our rules and regulations. The field of finance is a prime example of this but some times it takes a disaster to prompt lawmakers to make rule changes e.g. Enron’s unethical behavior leading to a large loss in their employees retirement funds (leading to law changes in the holding …

…which is another advantage of the change as it has simplified the rule. I liked this article as it is good news for the taxpayer and shows that the IRS is willing to make changes in today’s rapidly changing environment. I also think that retirement will affect most of us in the future and the rules will obviously be altered again and hopefully like this modification, it will be a change for the good.