The U.S. House of Representatives has passed a major bill that focuses on retirement saving. The Securing a Strong Retirement Act (SECURE 2.0) has many provisions that could affect retirees and people saving for the future. Among the provisions SECURE 2.0 covers: automatic enrollment in retirement plans; an increase in the beginning date of required minimum distributions from age 72 to 73 and eventually to 75; enhancements to the age 50-plus catch-up provisions; an online lost-and-found tool for forgotten pension benefits; and modified rules to allow SIMPLE IRAs to accept Roth contributions. There’s no word yet on when the Senate will vote on the bill but it does have bipartisan support.
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