Retirees who can afford to sit on their nest eggs a little longer to allow more tax-deferred growth could win big from a bill that is sailing through Congress.
The House of Representatives last week overwhelming approved a bill that will increase the age that people are required to start withdrawing money from their retirement accounts from 72 to age 75 in three steps over the next 11 years.
The comprehensive retirement bill called Securing a Strong Retirement Act of 2022 — or Secure Act 2.0 — passed the U.S. House by a vote of 414 to 5, and will now go to the U.S. Senate where it has bipartisan support.
