European Stars And Stripes (Newspaper) - October 11, 1987, Darmstadt, Hesse Page 20 the stars and stripes sunday october 11,1987 investor guide by Bill Doyle q. I heard thai a person underage 59 Vij now can nuke withdraw als from his individual retirement account without paying a penalty tax. How can that be a. It s because of one of the Many obscure provisions in the tax Reform act of 1986. Before 1987, anyone who with Drew Money from his or her Ira before reaching age 59 a or becom ing permanently disabled had Topay a 10 per cent penalty tax As Well a regular in come tax on the amount withdrawn. The new Federal tax Law allows healthy Ira Doyle participants under 59 i to make withdrawals free of the penalty tax under certain conditions. The withdrawals must be made in a series of periodic payments not less frequently than once year Over the life expectancy of the Ira participant or the joint life expectancy of the participant and his or her beneficiary. Also once the withdrawals have begun they must continue for at least five years or until the Ira participant reaches 59 a whichever comes later. For example if you Start taking such periodic Ira withdrawals at age 56, you la have to continue doing so until you turn 61. And i you begin those withdrawals at age so you la have to keep those pay ments coming until you reach59 a. Q. I am not covered by an employer s pension plan and i earless than $25,000 a year. Under the rules of the new Federal tax Law that Means i can continue to make $2,000 annual tax deferred contributions to my individual retirement account. However i will be 70 i next month. I am aware i will have to Start making the required minimum withdrawals from my Ira. Can i continue to make annual tax deferred contributions to Myira while making withdrawals and paying income tax thereon a. You can to because of your age. The rules specifically prohibit taking a tax deduction for an Ira contribution during or after the year in which you reach age 70w." however if your spouse is under 70ft and unemployed and you have a spousal Ira you can make a $2,000 tax deductible contribution to his or her account q. When you have written about rollover individual retirement accounts there seems to be no limit to the amount of Money involved. Recently Yon answered question from a Reader age 61, who had rolled Over his entire $60,500 Lump sum pension payment into an Ira. Does this mean income lax can be deferred on the $60300 until withdrawal How can this be done when i m Only allowed to put$2,000 per Yew into my Ira i to bought i understood iras but i guess not. A. You have confused regular iras with rollover iras. With a regular Ira each employed person can make annual contribution of up to $2,000. A married couple Only one of whom is employed can put up to $2,250 a year into a spousal Ira. Rollover iras Are not bound by those contribution rules. Business news stocks plunge in Active trading new York up the Stock mar Ket fell sharply in Active trading Las week Hurt by worries about inflation and rising interest rates. The Dow Jones Industrial average plunged 158.78 for the week to close at 2482.21. Losing issues led gainers 1,623 371 among the 2,159 issues traded on the new York Stock Exchange. The nose composite Index Slid 8.79 to 174.64. Standard & poor s 500-Stockindex lost 17.00 to 311.07. Big Board volume amounted to about 878,745,840 shares compared with 927,003,600 a week earlier and 613,535,500 the year before. Renewed worries about a worldwide upward trend in interest rates inflation and the size of the nation s Trade deficit put pressure on Stock prices All week. The Dow eased less than a Point Mon Day but went into a 91.55-Point plunge tuesday. Rising interest rates inflation fears futures linked Selling and a negative Short term forecast from Robert Rcch tar a widely followed Market technician caused big losses. The Dow fell More than 54 Points Dur ing wednesday s session though a late rally allowed the Blue Chip barometer to finish with a More modest loss of 34 Points. On thursday the Dow managed a feeble gain of 2.45 Points. Stock pulse Freda a Stock Pulsa to too Moloto duo to Iran la lion pro Kim originating to now York by Unitta Prass Stockli Varlly Tenno ism Ford my Omot Ronnei Exxon Conte c 1m7ffkwy.octt nose Compo Atto Moil Achim by a Ohio 579 vol cum earns be ykj4,219,100 3 3,353.800 70 $540 13.01,900.800 36 /. " 2.740.600 59k2.381.000 147% 1. 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As Long term Treasury Bonds approach 10 percent yield debt instruments can better compete with stocks for investors dollars. Stock dividends offer yields nearer 2.5 percent. Al Goldman senior vice president and technical analyst at . Edwards was More optimistic recommending that aggressive accounts begin accumulating stocks. If you step Back and look at the Las three weeks the Market As measured by the Dow is just where it was said Gold Man. The Dow closed at 2492.82 sept. 21, Rose to 2650.99 by oct. 2 and fell Back to 2482.21 by oct. 9. We went up 140 Points and fell 150, though it s been a Little scarier coming Down because the drop was faster Gold Man said. Every correction we be had since 1984 has been a straight Down affair and then we be headed Back up this one looks like our May correction. It s too Early to assume we arc in a whole new Ann Compo alte Moat Achaa by Nokhm Stock div vol Cana earns be my mortally 416.600 4eco bin o 414.400 26% Lertg Soltow 194.700 10 s0.7i 14.0 two Poutoa 166.100 10ich 0 164.400 us 1.s3 6.0 Faup 179.600 6h 12.5aba a 171.600 350 0.34 105.0 Bat 166.900 115-18 2.0 Tola Phr Lull 160.400 6 Cente rior Energy a holding company for Toledo Edison and Cleveland elec tric illuminating was the most act Venyse listed Issue. More than 28 million of its shares changed followed rising 2 to 59v. After the Market closed Friday the company said it expects record third Quarter profits. At to was third falling i k to 32 a. General motors fell 8 to 74" eve though the company reached a tentative contract with United Auto workers averting a widely anticipated strike. Ford dropped 5h to 94v. It boosted its quarterly dividend to $1 from 75 cents and approved a two for one Stock split contingent on shareholders approving an increase in the number of shares. 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