Posted on 05/24/2019 9:48:22 AM PDT by rintintin
The U.S. House of Representatives on Thursday passed a bill that aims to encourage retirement Opens a New Window. savings among Americans and strengthen their long-term financial stability Opens a New Window. .
Among the provisions called for in the Setting Every Community Up for Retirement Enhancement, or Secure Act, are a couple that will increase the flexibility associated with retirement accounts. Individuals would be allowed to stash money into IRA accounts beyond the current age limit of 70 1/2. It would also delay when individuals are required to begin taking required minimum distributions to 72, from 70 1/2.
(Excerpt) Read more at foxbusiness.com ...
Big whoop.
They still are forcing us to pull money out that we will need later and won’t have when we need it.
Paul Ryan is a traitor to this country. He is every bit as bad as Obama, The Beast, Pelosi, Schumer...
Answer about Rhine Ryan.....NOTHING
Of course, that is what they are planning. Some day in the future, politicians will confiscate everyone’s retirement savings and distribute the money to all. (keeping a lot for themselves)
Argentina already did this in 2008 under Christine Kirshner. The government seized all the retirement accounts and took over management of them.
He wrote and passed the largest tax reduction in history
Because Paul Ryan was busy trying to block Conservatives and interviewing for his job on Board of Director at Faux News.
The GOP-e could have done so much if they had stopped listening to donors and listened to Voters.
They were floating the idea in CA.
It lasted about 3 days and then suddenly died.
Ya like that was a surprise.
Well, with all the off and on rumblings about how the government wants eventually to take control of all retirement accounts and consolidate them in one big pot - which people will still be able to tap into to get their money back as needed of course of course (but the government also will be able to tap whenever it wants) - it’s small wonder the ‘rats want to see people put as much away for retirement for as long as they want.....
Why do you think it’s just the Democrats who want more tax money? Have you seen Republicans cutting spending?
This wouldn’t be tax money - it would be a pot of citizens’ savings which the government could and would steal from whenever it thought it needed more money for whatever reasons - a la the Social Security “Trust Fund”......
That's already allowable right now. IRAs and 401Ks allow funds to be transferred at any time from stock to bonds, as long as they are not withdrawn improperly.
Mark
I think your point is well taken.. Lake a rat after the cheese the democratic lawyers will always find a way to rob you...
Big push to add Annuities to be purchased within these retirement vehicles via this Bill.
Where is the ability to create the cheaper "Bond Ladder" as a parallel low cost alternative to annuities?
Hmmmm... No lobby group pushing that, man does the Swamp suck on Ice...
This will greatly hurt estate planning. Inherited IRAs will have to be withdrawn completely in a given time period (10 years) and taxed at the inheritor’s tax rate.
The Wall Street Journal did an editorial on this with a cartoon of a fox in Uncle Sam gear inviting in chickens into the coop to lay eggs, if that tells you anything.
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