#056 - New RMD rules and other retirement planning changes in SECURE 2.0 Act of 2022

Retirement Planning Education, with Andy Panko

Andy Panko

Roth Conversion, Roth Ira, Education, Social Security, Ira, Taxes, Retirement Planning, Annuities, Pension, Financial Planning, Investing, 401k, Tax Planning

4.9 • 1.1K Ratings

🗓️ 5 January 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Summary of the provisions of the recently enacted SECURE 2.0 Act of 2022 legislation that are most likely to impact you and your retirement planning Links in this episode: Full text of SECURE 2.0 Act of 2022 (starts on page 817) - hereJeffrey Levine's awesome summary of SECURE 2.0 - hereThe U.S. Senate's formal summary of each provision of SECURE 2.0 - hereFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Re...

Transcript

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0:00.0	Required minimum distribution ages changed again, as did a bunch of other retirement planning things that I'm about to talk about in this, the 56th episode of the Retirement Planning Education Podcast.
0:13.6	Welcome to the Retirement Planning Education Podcast, where you can learn all about IRAs and Roth IRAs, employer retirement plans, taxes, social security,
0:23.1	Medicare, portfolio withdrawal strategies, annuities, estate planning, and much more.
0:28.4	And now here's your host, Andy Panko.
0:31.1	Happy New Year, everybody. It is a fresh year, 2003. Thanks, as always, for listening to
0:37.2	the Retirement Planning Education podcast. So this, the first episode of this year, 2003. Thanks, as always, for listening to the Retirement Planning Education
0:38.4	Podcast. So this, the first episode of this year, sorry to let you down. I know I promised
0:44.0	the last episode, if not the last few episodes, I would be talking about or starting off this
0:49.0	year with my intro to investing series. I know you are all eagerly awaiting that. I may or may not have
0:56.3	hyped it up a lot. It is coming, I promise, but I expected to start next week. What happened was,
1:03.2	after I recorded the last two episodes about the divorce planning with Amy Colton, leave it to the
1:09.1	government to jam through some sweeping retirement
1:11.5	planning legislative changes in the last few days of the year.
1:16.7	And that's what happened.
1:18.0	So kind of not quite out of nowhere, but late in 2029, a few days before Christmas, the
1:25.6	Secure 2.2 Act, I'm sorry, Secure 2.0 Act of 2022 popped up
1:32.0	and ultimately made into law. President Biden signed it December 29th and it made a bunch of changes,
1:37.6	namely required minimum distribution ages, but also a whole, there's 90-something total provisions to the Secure 2.0 Act.
1:46.5	I'm going to discuss in this episode, I thought it was timely.
1:49.4	Well, I know it's timely.
1:50.7	And I thought it was worth interrupting your regularly scheduled programming to do an episode
1:55.6	about this and punt the investment intro one back in another week so I can this Secure 2.0 act in front of you all.
	...

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