401(k) savings plans get a boost in bipartisan retirement bills

Americans could stash more in their 401(k)s and sit on their nest egg longer, under a home bill aimed at boosting individual retirement savings.

The law, passed by a vote of 414 to 5 on Tuesday, raises contribution limits for older workers and allows companies to offer employees a small cash bonus just for enrolling in the retirement plan. The bipartisan measure, dubbed the Secure Act 2.0 by some, would build on pension policy changes passed in 2019, which include raising the age at which people must withdraw money from retirement accounts from 70½ to 72.

https://www.wsj.com/articles/401k-secure-retirement-bill-house-2022-11648583270?mod=rss_markets_main 401(k) savings plans get a boost in bipartisan retirement bills

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