What's New: IRA Changes for 2023 and Beyond

On December 29, 2022, the Consolidated Appropriations Act of 2023 (HR 2617) was signed into law. The Act includes important provisions affecting retirement savings plans which are intended to build upon the 2019 SECURE Act. These provisions, collectively referred to as SECURE 2.0, offer many new benefits to employers and employees which are designed to make it more attractive for employers to offer retirement plans and to improve retirement outcomes for employees.

The topics below are linked to updated sections of The Gold Book: 

RMD age increased to 73

RMD Penalty Reduced

Expanded Penalty Exceptions

Qualified Charitable Distribution Expansion

529 Rollovers to Roth IRAs

QLAC Premium Increases

Savers Credit Replaced by Savers Match