Monday, June 26, 2023

SECURE 2.0 increased RMD age, allowing more time to save

Specific legislation in the SECURE 2.0 Act has increased the RMD age to age 73 in 2023 (age 72 if born from July 1, 1949 to December 31, 1950, and age 70½ if born before July 1, 1949). This offers savers the opportunity to delay taking distributions from their retirement plans, while allotting additional time to grow their nest eggs. Read more about this change.
To help answer questions you may have, RMD reference materials can be found on your plan website (Resources > News & Communications > RMD Reference Materials).