HR 8567
116th Congress
House
Taxation
Bank accounts, deposits, capital
Disability and paralysis
Employee benefits and pensions
Income tax exclusion
Inflation and prices
Interest, dividends, interest rates
Required Minimum Distribution Modernization Act of 2020
Introduced: October 9, 2020
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 9, 2020
Referred to the House Committee on Ways and Means.
Oct 9, 2020
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1