New 401(k) Rules You Can't Ignore: What Every Saver Needs to Know
Download MP3If you are investing for retirement and are using a 401k or plan on using a 401k as an investment vehicle, keep an eye on some changes to laws that are happening at the federal level. There's a series of statutes and laws coming through the pipeline that are going to change the 401k fund and 401k plan requirements.
That may be an advantage or benefit to some people; there may also be some disadvantages. The basics are: there will be new incentives to save, meaning that there will be advantages for investors.
One major change is having a later age to start minimum withdrawal, so you can leave your money in there longer before you have to start pulling money out of your 401k. Basically, they're going to make it so you don't have to start taking out money until 75 versus 72, and it increases the amount that you can put in every year before taxes.
