Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
This act was discussed previous here, so this is a reminder. The RMD's apply to T-IRA's, 401k's, 403b's and perhaps 457's. Exceptions may exist if one is still employed. Pass along as needed. Broad Google search links here.
Secure 2.0 made many changes that have been covered in earlier threads.
Sticking to RMDs, another1 change from 2024 is that RMDs will no longer be required from Roth 401k/403b. Until 2023, retirees have to move Roth 401k/403b to Roth IRA to avoid RMDs.
Another2 change relates to RMD from accounts that also have partial annuitizations. All withdrawals from these accounts (annuity payments plus other withdrawals) can be aggregated for RMD purposes.
Another2 change relates to RMD from accounts that also have partial annuitizations. All withdrawals from these accounts (annuity payments plus other withdrawals) can be aggregated for RMD purposes.
I found this link which discusses this in more detail.
This change applies to all IRAs annuitized after 12/31/22. The IRS will provide additional guidance on the specifics of this calculation, but a retiree can use a good faith interpretation until then.
Comments
Secure 2.0 made many changes that have been covered in earlier threads.
Sticking to RMDs, another1 change from 2024 is that RMDs will no longer be required from Roth 401k/403b. Until 2023, retirees have to move Roth 401k/403b to Roth IRA to avoid RMDs.
Another2 change relates to RMD from accounts that also have partial annuitizations. All withdrawals from these accounts (annuity payments plus other withdrawals) can be aggregated for RMD purposes.