Keeping Your Retirement Act of 2021
Last action on Jun 7, 2021Read twice and referred to the Committee on Finance.
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Summary
The Keeping Your Retirement Act of 2021 (S. 1959) proposes to raise the age at which individuals must begin taking required minimum distributions (RMDs) from their tax-exempt retirement accounts. Under this legislation, the mandatory start age for these withdrawals would increase from 72 to 75. This change would allow retirees to keep their savings in tax-advantaged accounts for an additional three years, providing more flexibility in managing their retirement income and potentially allowing their investments more time to grow.
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