FYI: There’s no denying that longevity is increasing in the U.S. and throughout much of the world. Recent legislation like the SECURE Act, passed on May 23 by the House of Representatives, is beginning to recognize this trend and the potentially far-reaching implications on society. One much-publicized provision of this bill is a proposed delay in the required-minimum-distribution (RMD) age from 70½ to 72. The bill also proposes a change that would allow IRA contributions for all workers with earned income, regardless of their age, along with rules requiring employers to allow long-term part-time workers to participate in company 401(k) plans. These changes are driven, in part, by expectations that greater longevity will result in more workers choosing and needing to remain employed beyond age 70.
Regards,
Ted
https://www.fa-mag.com/news/the-risk-and-impact-of-living-longer-50624.html?print
