Legislation to Raise Required Minimum Distribution Age to 75
Last week CNBC ran this story: New retirement bill has perks for seniors, student loan borrowers. Here are the key points from the story
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A new, bipartisan bill would raise the age for required minimum distributions from accounts like 401(k)s and IRAs to 75, from 72.
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It would also let workers repaying student loans to get a company 401(k) match even if they’re not saving in their workplace plan.
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The Securing a Strong Retirement Act of 2020 was proposed Tuesday by Rep. Richard Neal, D-Mass., and Rep. Kevin Brady, R-Texas.
Here’s the news story “The legislation, proposed by House lawmakers on Tuesday, raises the age for starting RMD from 72 to 75. The bill, the Securing a Strong Retirement Act of 2020, is available here.
Thanks to my colleague and friend Professor Feeley for sending me the story.