01-08-25 ARI News PM

Author

Larisa Asanache
January 08, 2025

Today’s Story

New legislation in 2025 is changing the rules for required minimum distributions (RMDs) and contributions to retirement accounts. The SECURE 2.0 Act raised the RMD age to 73, giving retirees more time to let their investments grow tax-deferred. This change provides additional flexibility, especially for those who want to minimize taxable income.

For savers, catch-up contributions have increased for those aged 50 and older, allowing an extra boost to retirement accounts. Understanding these updates can help retirees take full advantage of their financial options. Stay informed to ensure you’re making the most of your savings under the latest guidelines.

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Economic Tip

Consult with a financial advisor to understand how recent legislative changes impact your retirement plan and taxes.