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Congress Waived Required Minimum Distributions for 2020. Here’s What Retirees Need to Know

Congress Waived Required Minimum Distributions for 2020. Here’s What Retirees Need to Know

The American College of Financial Services
Money
June 12, 2020

As part of the CARES Act package of COVID-19 financial relief measures, many Americans at or near retirement no longer have to take required minimum distributions out of their 401(k) and other savings accounts if they don’t think it advantageous. But how long will this temporary reprieve hold out?

Colin Slabach, assistant professor of retirement income, says depending on how long the recovery period after the pandemic is, suspending RMDs could either be continued or come to an end in 2021. Learn how to navigate both possibilities in this piece from Money.

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