Rep. Neal Reelected as Ways and Means Chair

Under current law, generally, those aged 72 and older must take RMDs from employer-sponsored defined contribution plans and traditional IRAs.

Neal and Brady's bill would increase the age to 75, and would be effective for distributions required to be made after Dec. 31, 2020, with respect to individuals who turn 72 after that date.

Fred Reish, partner at Faegre Drinker, told ThinkAdvisor Thursday that it's possible Secure 2.0 could be attached to the omnibus spending bill.

The bill being attached "is a distinct possibility," he continued, because it "has support from major bipartisan members of Congress" — Neal and Brady in the House, along with Sens. Rob Portman, R-Ohio, and Ben Cardin, D-Md.

"Once a bill gets attached to a major piece of legislation, such as an appropriations bill, it will almost certainly be enacted," Reish said. If attached, "we will get Secure 2.0 this year."

— Check out Ed Slott on RMDs, Backdoor Roths and the Death of the Stretch IRA on ThinkAdvisor.