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  • Lawmakers Push New Retirement Legislation (RMD @ 72 instead of 70 1/2)

    03/30/2019 11:39:10 AM PDT · by abb · 101 replies
    The Wall Street Journal ^ | March 29, 2019 | Anne Tergesen and Richard Rubin
    Congress is making another push on legislation that could make it easier for small companies to offer 401(k) plans and for workers to guarantee themselves an annual income after they retire. A bipartisan group of lawmakers including Rep. Richard Neal (D., Mass.), chairman of the House Ways and Means Committee, announced Friday the legislation would repeal the age cap for contributing to individual retirement accounts, currently 70½. It would also increase the age at which owners of tax-deferred retirement accounts are required to start taking withdrawals from those accounts to 72 from 70½. Because the measure has support from key...