New RMD Rules: Starting Age, Penalties, Roth 401(k)s, and More

The SECURE 2.0 Act makes major changes to the required minimum distribution rules.

The words RMD and required minimum distributions are typed on a notecard next to a calculator and pen.
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There are some new rules for required minimum distributions (RMDs) from retirement savings accounts (e.g., traditional IRAs and 401(k) plans). The SECURE 2.0 Act of 2022 makes significant changes to the way people save for and are taxed in retirement. And RMDs are one of the major areas of focus in the new law.

It wasn't all that long ago that the retirement-savings landscape was shaken up. Among other things, the original SECURE Act, which was enacted in 2019, extended the age at which you must start taking RMDs from 70½ to 72. That was a big boost for many seniors, who can now keep money in their tax-free retirement accounts a little longer. But that wasn't enough help for retirees in the eyes of many lawmakers. So, as soon as the ink was dry on the SECURE Act of 2019, Congress began planning additional legislation to help more people save for retirement and hold on to their money longer in retirement. Those efforts resulted in the SECURE 2.0 Act of 2022.

For retirees, or those approaching retirement, who are worried about mandatory retirement account distributions, getting up to speed on the new RMD changes is very important. You need to know how the new RMD rules will impact you to properly plan your finances in the future. Check out the new RMD rules discussed below now, so you are not caught off guard when it's time for you to take RMDs from your retirement savings accounts.

[Note: For an overview of the SECURE 2.0 Act, see our SECURE 2.0 Act Summary.

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Rocky Mengle

Rocky Mengle was a Senior Tax Editor for Kiplinger from October 2018 to January 2023 with more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, Rocky worked for Wolters Kluwer Tax & Accounting, and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky holds a law degree from the University of Connecticut and a B.A. in History from Salisbury University.