How the Secure Act 2.0 Changed Required Minimum Distributions (RMDs) 


by Allison Schaecher

Under previous Secure Act rules, individuals were required to start taking RMDs from their retirement accounts by age 72 which was an increase from the long previous age of 70 ½, but RMDs have been pushed out one more year to age 73 for individuals who were not age 72 by 12/31/22. Secure Act 2.0 also raised the RMD age to 75 for those individuals who attain age 73 after 12/31/32. This change recognizes the increasing longevity of Americans and allows individuals to keep their funds invested for a longer period, potentially growing their retirement savings.

Also, effective 2024, Roth Employer plans will no longer need to take lifetime RMDs. 

For more in-depth information and guidance on these and several other rules that came into effect with Secure Act 2.0, Brokers International Mountain States (BIMS) has access to Heather Schreiber, RICP®, NSSA®, and her firm HLS Retirement Consulting, LLC providing the BIMS producers expert guidance on tax changes, social security knowledge and concepts and virtual and in-person training. She is consistently delivering newsletters and timely whitepapers, and BIMS producers have access to her for individual case consultations.

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