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.

With a significant number of changes beginning this year and next, we’re going to break the discussion up into two parts. In this first episode, Phil will lay out the details for RMDs and the new age requirements. Plus, he’ll tell you about five changes coming to Roth accounts as well. Retirees and pre-retirees need to be aware of what’s happening so you can stay on top of the planning.

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]