House Ways and Means Committee Chairman Richard Neal, D-Mass., plans to reintroduce in the new Congress the Securing a Strong Retirement Act of 2020, which would boost the required minimum distribution age from 72 to 75.
"Strengthening retirement policy continues to be a priority of mine, and improving Americans' long-term financial security has taken on even greater importance now that so many people have had to draw from their savings during the COVID crisis," Neal told ThinkAdvisor in a Tuesday email message. "I plan to reintroduce the Securing a Strong Retirement Act this Congress and expect it will pass with broad bipartisan support, just as the SECURE Act did in 2019."