Would you please clarify the RMD provisions? If someone is born after 1/1/58 are they not required to take RMDs until 2033? This is the way I read the bill, but I have read other interpretations. As always your expertise is greatly appreciated.
The average person would be better off if government spent less on pork. You would think that with all the pork the price of bacon would go down.
Want to improve people's retirement? Bring back defined (funded) benefit plans. The change from defined benefit to defined contribution damaged beyond belief the retirement of the most people. Only those with well funded defined benefit plans, social security/railroad and 401k plans will enjoy retirement.
We need a new ERISA 2.0, not Secure 2.0.
How about if the government really took some bold revenue busting steps and allowed all 401k balances to convert to Roth free of taxes? Crazy? Maybe but so isn't so isn't waving liabilities for loans taken with free acts of volition.
What's in the retirement legislation Congress just passed?
Hey Phil,
Would you please clarify the RMD provisions? If someone is born after 1/1/58 are they not required to take RMDs until 2033? This is the way I read the bill, but I have read other interpretations. As always your expertise is greatly appreciated.
This legislation amounts to a hill of beans.
The average person would be better off if government spent less on pork. You would think that with all the pork the price of bacon would go down.
Want to improve people's retirement? Bring back defined (funded) benefit plans. The change from defined benefit to defined contribution damaged beyond belief the retirement of the most people. Only those with well funded defined benefit plans, social security/railroad and 401k plans will enjoy retirement.
We need a new ERISA 2.0, not Secure 2.0.
How about if the government really took some bold revenue busting steps and allowed all 401k balances to convert to Roth free of taxes? Crazy? Maybe but so isn't so isn't waving liabilities for loans taken with free acts of volition.