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Congress is debating new retirement rules. These 7 changes are on the table

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txwallflower
Established Member

Congress is debating new retirement rules. These 7 changes are on the table

Congress may pass new retirement savings plans 

1Require auto enrollment in 401(k) plans

2. Introduce employer contributions for student loan payments

3. Increase the age for required minimum distributions

4. Help employees build and access emergency savings

5. Raise catch-up contribution limits for older workers

6. Enhance and simplify the Saver’s Credit

7. Make it easier for part-time workers to save

Message 1 of 4
3 REPLIES 3
Horseshoez
Senior Contributor

Re: Congress is debating new retirement rules. These 7 changes are on the table

I'm looking forward to the following:

3. Increase the age for required minimum distributions

5. Raise catch-up contribution limits for older workers

 

I'm already over 65 and have been contributing the maximum (including catch-up) for quite a few years now; I figure I'll be working until I'm 72, after which the current rules for RMDs will start to bite me hard.

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 2 of 4
Lou-natic
Established Contributor

Re: Congress is debating new retirement rules. These 7 changes are on the table

The scariest nine words in the english language..."I'm from the Government and I'm here to help."

 

Of course I want all my social security money back so I can invest it myself and actually make money but too many cry babies in the world for that to happen.




3/3/24
Message 3 of 4
Remedios
Credit Mentor

Re: Congress is debating new retirement rules. These 7 changes are on the table

Please, no politics of any kind. Stick with economics. See TOS if you require additional clarification 

 

Message 4 of 4
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