The newly-enacted SECURE 2.0 Act contains significant changes that may affect how you plan for retirement. The bill, passed by Congress and signed into law by President Biden in late 2022, could help you bolster your retirement savings and income strategy.
Here are some of the key provisions included in the new law, which are being phased in over the next several years:
New rules now
Required minimum distributions (RMDs) start after age 73
Until recently, RMDs from traditional IRAs and workplace retirement savings plans, such as 401(k) or 403(b) accounts, had to begin after reaching...