Retirement

New rules for retirement plans

The House Ways and Means Committee is considering several changes to retirement rules. Among them is a change in required minimum distributions (RMDs) from age 70 1/2 to 72, This would delay tax revenue, but the bill’s sponsors say Americans are living longer than when the rules were first established in the 1960s.

Sound logic indeed, but interesting it doesn’t apply to Social Security given there has been a great increase in life expectancy from age 65.

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