H.R. 8567 · 116th Congress
Required Minimum Distribution Modernization Act of 2020
- Stage
- In committee
- Sponsor
- Stephanie Murphy
- Introduced
- 2020-10-09
- Latest action
- 2020-10-09 · Introduced in House
Summary
Required Minimum Distribution Modernization Act of 2020
This bill revises rules requiring mandatory minimum distributions from tax-exempt retirement plans. Specifically, it increases from 72 to 75 the age at which plan participants must being making distributions from their accounts. It also exempts defined contribution plans from mandatory distribution requirements if the aggregate value of an employee's entire interest in all such plans does not exceed $100,000.