Earlier this week, Congress released a new proposal to increase the RMD age from 72 to 75. Additional provisions include exempting individuals with pre-tax IRA balances of $100,000 or less from RMDs, increasing the catch-up contribution limit to IRAs for those aged 50 and over, and allowing individuals who are paying down student loans instead of making retirement plan contributions to still be eligible for employer matches to their retirement plans. At Brandywine Oak, we know how important it is to stay up-to-date with the latest legislative proposals so that we can our clients navigate through any potential changes.
To learn more about this timely topic, please take a moment to read Think Advisor’s article https://www-thinkadvisor-com.cdn.ampproject.org/c/s/www.thinkadvisor.com/2020/10/27/new-house-bill-would-boost-rmd-age-to-75/?amp=1.
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