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Later Retirement Withdrawals: Changes to Mandatory Distribution Age.

This bill amends tax laws to increase the age at which citizens must begin taking mandatory distributions from their retirement accounts. This means individuals saving for retirement can keep their money in accounts longer, potentially growing its value before withdrawals begin.
Key points
The age for starting mandatory retirement distributions will increase from 72 to 73 for individuals turning 72 after December 31, 2026.
This age will further increase to 75 for individuals turning 73 after December 31, 2032.
These changes also apply to spouse beneficiaries and account owners, offering more flexibility in managing retirement savings.
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Additional Information
Print number: 117_HR_2933
Sponsor: Rep. Murphy, Stephanie N. [D-FL-7]
Process start date: 2021-04-30
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to increase the age for the beginning date for required minimum distributions.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2933.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-30.

What are the main provisions?

Key points include:

  • The age for starting mandatory retirement distributions will increase from 72 to 73 for individuals turning 72 after December 31, 2026.
  • This age will further increase to 75 for individuals turning 73 after December 31, 2032.
  • These changes also apply to spouse beneficiaries and account owners, offering more flexibility in managing retirement savings.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Murphy, Stephanie N. [D-FL-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Benefits