Congress may pass new retirement rules. These 7 changes are on the table | CNN Business

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There soon may be new retirement rules in place that could make it easier for Americans to accumulate retirement savings — and make it less costly to withdraw them

Editor’s Note: This an update of a story that originally published on December 8, 2022. — if lawmakers pass a major spending package this week. The retirement savings provisions – known as Secure 2.0 – were drawn from a House-passed bill and bills that were passed by two Senate committees. “[SECURE 2.

For employees who are dissuaded from saving money in a tax-deferred retirement plan because they are concerned it would be too complicated and costly to access it for emergencies, Secure 2.0 may assuage that fear: It would let employees make a penalty-free withdrawal of up to $1,000 a year for emergencies. While employees would still owe income tax on that withdrawal in the year it’s made, they could get that tax refunded if they repay the withdrawal within three years.

 

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These don't do shit, why not let older workers withdraw 401 tax free if they use money to pay off house!! That would help in so many ways. These proposals are a joke.

Is the owner of CNN Amroman or Amroscandinavian?

What savings. 401k is down. Make cheaper? So they can spend their $$$ because the economy sucks!!good plan joe!then people won’t have any retirement and depend on the government. Wtf

Ahead of dismantling Social Security?

lol

Good, the government needs to step back and let people be.

If you couldn't listen any NEWS about Iran in future you have to know that the IR shout down the Internet on us and the one who does it is Arvan Cloud. We will countinue to our protesting and revolution with or without internet but your support make it faster. MahsaAmini

About GD time. The current rules are ridiculous.

are old people a burden on society?

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