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SECURE Act 2.0: New Rules for Retirement Savings and Distributions

1/3/2025

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Summary

Story summary

The SECURE Act 2.0 raises the minimum distribution age to 73, increasing to 75 by 2033.
Individuals can now make a one-time $53,000 charitable transfer from IRAs to eligible entities.
Social Security retirement age will change in 2025, impacting benefits for individuals born after 1954.
IRS has increased 401(k) deferral limits to $23,500 for 2025, with catch-up contributions at $7,500 for those aged 50 and older.

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Story summary

The SECURE Act 2.0 raises the minimum distribution age to 73, increasing to 75 by 2033.
Individuals can now make a one-time $53,000 charitable transfer from IRAs to eligible entities.
Social Security retirement age will change in 2025, impacting benefits for individuals born after 1954.
IRS has increased 401(k) deferral limits to $23,500 for 2025, with catch-up contributions at $7,500 for those aged 50 and older.