Episode 166
Ep 166: SECURE Act 2.0 - RMD & Roth Changes (Part 1)
January 12, 202319m 50s
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Show Notes
Another round of retirement changes are on the way after President Biden signed a spending bill in December 2022 that included the SECURE Act 2.0. Retirees and pre-retirees need to understand what this legislation means, how it might impact you, and what planning opportunities this could open up.
Here’s some of what you’ll learn on this episode:
- RMD age extended to age 73 for some and 75 for others. (1:05)
- The RMD penalty has been reduced. (3:35)
- There are no longer RMDs for any Roth account (5:09)
- Catch-up contributions to company plans will have to do into the Roth for high-income earners. (11:22)
- The ability to move money from a 529 plan to a Roth…with restrictions. (13:31)
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