New retirement bill has perks for seniors, student loan borrowers

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A House bill proposed Tuesday would raise the age for required minimum distributions to 75 and let workers repaying student loans get a 401(k) match even if they're not saving in a workplace plan.

A new, bipartisan bill would raise the age for required minimum distributions from accounts like 401s and IRAs to 75, from 72.

It would also let workers repaying student loans to get a company 401 match even if they're not saving in their workplace plan. The Securing a Strong Retirement Act of 2020 was proposed Tuesday by Rep. Richard Neal, D-Mass., and Rep. Kevin Brady, R-Texas.A new bipartisan retirement bill has perks for seniors and savers shouldering student debt., proposed by House lawmakers on Tuesday, would raise the age at which seniors must start drawing money from their 401 plans and individual retirement accounts to 75.

, would also let businesses pay a 401 match to workers paying off student loans, even if those borrowers aren't saving in the company retirement plan.

 

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