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As the year draws to a close, another round of changes to the U.S. retirement system is on tap — via the SECURE 2.0 Act of 2022, which has just been passed by Congress.
Part of the $1.7 trillion 2023 omnibus appropriations bill unveiled in late December and passed by the Senate and House before Christmas, the SECURE 2.0 Act includes, as CNBC.com reports, provisions "intended to build on improvements to the retirement system that were implemented under the 2019 SECURE Act. Those changes included giving part-time workers better access to retirement benefits and increasing the age when required minimum distributions, or RMDs, from certain retirement accounts must start — to age 72 from 70.5." (The new law increases that mandatory age to 73 in 2023.)
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