Significant Changes to Retirement Plans: What You Need to Know
The Senate recently passed a spending bill, which includes a variety of changes for people with retirement accounts.
Read a SECURE Act summary here.
- Elimination of the age limit on traditional IRA contributions. Traditional IRA contributions may now continue past age 70 ½.
- Age to start taking Required Minimum Distributions (RMDs) in now 72 (previously 70 ½).