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Today’s Smart Money Question:
December. We’ll share some of the highlights, including new requirements for companies with new 401(k) and 403(b) plans.
Did you know that companies can automatically enroll their employees into these plans? We’ll explain this along with some other key changes to RMDs, retirement accounts, and other planning items.
On today’s show, here’s some of what you’ll learn:
- How the minimum distribution age changed. [5:58]
- What happens if you miss your minimum distribution? [7:35]
- Why there’s a drastic increase to catch-up contributions. [9:53]
If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.