Required Minimum Distribution Modernization Act of 2020 This bill revises rules requiring mandatory minimum distributions from tax-exempt retirement plans. Specifically, it increases from 72 to 75 the age at which plan participants must being making distributions from their accounts. It also exempts defined contribution plans from mandatory distribution requirements if the aggregate value of an employee's entire interest in all such plans does not exceed $100,000.
Bank accounts, deposits, capitalDisability and paralysisEmployee benefits and pensionsIncome tax exclusionInflation and pricesInterest, dividends, interest rates
Required Minimum Distribution Modernization Act of 2020
USA116th CongressHR-8567| House
| Updated: 10/9/2020
Required Minimum Distribution Modernization Act of 2020 This bill revises rules requiring mandatory minimum distributions from tax-exempt retirement plans. Specifically, it increases from 72 to 75 the age at which plan participants must being making distributions from their accounts. It also exempts defined contribution plans from mandatory distribution requirements if the aggregate value of an employee's entire interest in all such plans does not exceed $100,000.
Bank accounts, deposits, capitalDisability and paralysisEmployee benefits and pensionsIncome tax exclusionInflation and pricesInterest, dividends, interest rates