Americans could stash more in their 401(k)s and sit on their nest eggs longer under a House bill that aims to boost individual retirement savings
Americans could stash more in their 401s and sit on their nest eggs longer under a House bill that aims to boost individual retirement savings.
The bill, passed Tuesday by a vote of 414 to 5, raises contribution limits for older workers, and lets companies offer employees a small cash bonus just for signing up for the retirement plan. The bipartisan measure, which some are referring to as Secure Act 2.0, would build on enacted in 2019 that, among other things, raised the age people were required to start withdrawing money from retirement accounts to 72 from 70½.
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