As part of the Consolidated Appropriations Act of 2023, SECURE Act 2.0 was signed into law on December 29, 2022 and is one of the most comprehensive pieces of retirement plan legislation ever enacted. At nearly 400 pages in length, the bill contains 92 provisions aimed primarily at expanding employee access to employer-sponsored retirement plans, increasing employee and employer retirement contribution rates, and promoting the nation’s overall retirement security. The Senate Finance Committee’s description of SECURE Act 2.0 is found here.
Here’s one relevant provision we wanted to share with you:
Required Minimum Distribution (RMD) Beginning Age
Starting in 2023, the RMD beginning age will be 73.
Starting in 2033, the RMD beginning age will be 75.
SOURCE: TRPC News Feed