Political Brinksmanship on Major Retirement Legislation - AMAC & Yahoo Finance
The lame duck session of Congress has not yet passed the retirement bill dubbed The SECURE Act 2.0. Ben Werschkul reports that, while the bill has no Social Security provisions, it aims to follow up 2019’s SECURE Act, which was the first major retirement legislation since 2006. Four committees in both houses have negotiated for nearly two years. The goal is to nudge businesses to get more people enrolled in retirement plans, especially small businesses that have trouble offering plans or part-time employees at larger companies who are currently ineligible to enroll. Another key provision would increase the required minimum distribution from 72 to age 75. There is also talk of expanding the SAVERS tax credit, among other lesser provisions. Read full article here.