Joint Economic Committee chairman Jim Saxton said this week that support is growing for a bill he sponsored that would end mandatory withdrawals from IRAs after investors turn 70 ½.
The bill is not expected to be taken up until Congress returns from its summer break in the fall, but is of wide interest to the enormous baby boom population, which is heading toward retirement over the next two decades, with greater life expectancies than previous generations.
Under the new law, seniors could roll over 401(k) assets into IRAs and not have to forfeit the tax benefits.
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