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A special rule change laid out in the SECURE 2.0 Act from 2022 will go into effect on Jan. 1. The new rule increases the catch-up contribution limits for 401(k)s. The thing is, it only applies to ...
Adam Levy, The Motley Fool November 26, 2024 at 6:27 AM One of the biggest advantages of retirement accounts like the IRA and 401(k) is the ability to avoid paying taxes.
Image source: Getty Images. 1. Claim a 401(k) match if you're eligible for one. Not all employers offer 401(k) matches, but if yours does, you probably want to put your retirement savings here ...
Historically, Roth 401(k) plans have been subject to RMDs rules, but that changed when Congress approved the Secure Act 2.0 in 2022. Specifically, as of 2024, the RMD rules no longer apply to Roth ...
The rule change doesn't take effect until Jan. 1, 2025, and even then, it doesn't apply to all companies. ... Also, all existing 401(k) and 403(b) plans are grandfathered in and do not have to ...
However, while this rule goes into effect this year, it applies to 2024 funds, meaning you still need to take the RMD if you had funds in a Roth 401(k) at the end of 2023.
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