--- title: Wealth Management Blog | WrapManager | RMD description: RMD | Helpful tips, tactics and information about investment planning, money manager research, and managing your retirement. --- [![Assembly Wealth](https://www.letsassemble.com/hs-fs/hubfs/Assembly/logos/Assembly-Wealth-Logo-Orange-500px.png?width=300&height=70&name=Assembly-Wealth-Logo-Orange-500px.png "Assembly Wealth")](https://www.letsassemble.com/) The Money Manager People TM [800-541-7774](tel:+18005417774) [![RESEARCH MONEY MANAGERS](https://no-cache.hubspot.com/cta/default/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5) [![Client Center](https://no-cache.hubspot.com/cta/default/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2) [Home](https://www.letsassemble.com/) WrapManager's Wealth Management Blog When life changes, we can help you thoughtfully respond. ### [Understanding How the SECURE Act 2.0 Impacts Your Retirement](https://www.letsassemble.com/wealth-management-blog/secure-act-2) Posted by [ Doug Hutchinson | CFA®, Director of Research and Trading ](https://www.letsassemble.com/wealth-management-blog/author/doug-hutchinson) January 23, 2023 [![Understanding How the SECURE Act 2.0 Impacts Your Retirement](https://www.letsassemble.com/hs-fs/hubfs/Charts%20and%20upward%20directed%20arrows%20against%20blue%20%20background.jpeg?width=300&name=Charts%20and%20upward%20directed%20arrows%20against%20blue%20%20background.jpeg) ](https://www.letsassemble.com/wealth-management-blog/secure-act-2) The Consolidated Appropriations Act of 2023, passed by Congress and signed into law by the President, contained several retirement related provisions collectively known as the “SECURE Act 2.0.”  The SECURE Act 2.0 is a follow up to the original Setting Every Community Up for Retirement Enhancement (SECURE) Act passed and signed into law in December 2019.  Here are some of the key provisions of this new law:  **Raising the Required Minimum Distribution (RMD) Starting Age**  The SECURE Act 2.0 pushes back the age at which retirees must begin taking RMDs to age 75.  This provision will be phased in over the next ten years, so the starting age for RMDs will be pushed back to age 73 in 2023 and then pushed back again to age 75 in 2033. 1  The original SECURE Act moved the starting age to 72 in 2020 and the SECURE Act 2.0 has no impact on the RMD starting age of retirees who have already begun taking RMDs.  **Using IRA Distributions for Giving**  While the age at which RMDs begin will be changing, the SECURE Act 2.0 does not change the age at which Qualified Charitable Distributions (QCDs) can be made. 2 The earliest age at which an individual can make a QCD will still be 70 ½.  A QCD is an otherwise taxable distribution from an IRA that is paid directly from the IRA to a qualified charity.   Also, the current annual limit of $100,000 for QCDs will be indexed to inflation going forward. 3   **Higher Catch-Up Contribution Limits**  Effective in 2025, workers between the ages 60 and 63 will see the catch-up contribution limits in certain employer retirement plans such as a 401(k) or 403(b) increased to the greater of $10,000 or 150% of the regular catch-up contribution limit. 4  Also, all catch-up contributions limits for all age groups will be indexed to inflation (including the IRA catch-up contribution annual limit which is currently $1,000) starting in 2024. 5  [[+] Read More](https://www.letsassemble.com/wealth-management-blog/secure-act-2) [Retirement Planning](https://www.letsassemble.com/wealth-management-blog/topic/retirement-planning) [Saving for Retirement](https://www.letsassemble.com/wealth-management-blog/topic/saving-for-retirement) [RMD](https://www.letsassemble.com/wealth-management-blog/topic/rmd) [Required Minimum Distribution](https://www.letsassemble.com/wealth-management-blog/topic/required-minimum-distribution) [![Are You the Beneficiary of an IRA? You May Need to Take a Required Minimum Distribution](https://www.letsassemble.com/hs-fs/hubfs/blog-files/Logo_WrapManager_IRA_Beneficiary_Scenerios.png?width=300&name=Logo_WrapManager_IRA_Beneficiary_Scenerios.png)](https://www.letsassemble.com/wealth-management-blog/ira-beneficiaries-know-when-to-take-rmds) ### [Are You the Beneficiary of an IRA? You May Need to Take a Required Minimum Distribution](https://www.letsassemble.com/wealth-management-blog/ira-beneficiaries-know-when-to-take-rmds) December 6, 2017 When most investors/retirees think of Required Minimum Distributions (RMDs), they think of turning 70 ½ and having to take mandatory distributions from an IRA. The federal government allows savers to make tax deductible contributions (with tax deferred growth) to IRAs/401(k)s/qualified retirement plans throughout their working lives, but the party ends when folks turn 70 ½. Uncle Sam eventually gets his cut. There’s one feature of RMDs, however, that is less widely known. That is, if the account owner passes away and there is still a balance in the qualified retirement account, it is the responsibility of the beneficiary to take the required distributions, whether that be the spouse, a child, a charity, a trust, and so on. Not taking the required distributions can result in a 50% excise tax penalty on the amount not withdrawn, so it’s important to understand these rules. We’ll break them down more clearly for you, below. [[+] Read More](https://www.letsassemble.com/wealth-management-blog/ira-beneficiaries-know-when-to-take-rmds) [![Tax Planning: Don’t Forget Your Required Minimum Distributions](https://www.letsassemble.com/hs-fs/hubfs/blog-files/Dont-forget-to-take-required-RMD.png?width=300&name=Dont-forget-to-take-required-RMD.png)](https://www.letsassemble.com/wealth-management-blog/tax-planning-rmds) ### [Tax Planning: Don’t Forget Your Required Minimum Distributions](https://www.letsassemble.com/wealth-management-blog/tax-planning-rmds) November 15, 2017 Republicans on Capitol Hill are currently working to make major changes to the tax code, but one tax rule does not seem likely to change anytime soon: required minimum distributions (RMDs). For most of our lives, investors have the benefit of saving into IRAs, 401(k)s, 403(b)s, etc. with tax-deductible contributions and tax-free growth, but eventually the day comes when Uncle Sam gets his cut. That starting point when the IRS requires you to withdraw from your IRA or other retirement account for is by April 1 of the year following the calendar year in which you reach age 70½ (which is 6 months after your 70th birthday). For example, if you are retired and you turned 70 on June 30, 2017, then December 30, 2017 marks the day you reach 70 ½. That means you must take your first RMD for 2017 by April 1, 2018. Every year thereafter, you have until December 31 to get it done. [[+] Read More](https://www.letsassemble.com/wealth-management-blog/tax-planning-rmds) [All posts](https://www.letsassemble.com/wealth-management-blog/all) ### Subscribe to Updates [Subscribe to RSS Feed](https://www.letsassemble.com/wealth-management-blog/rss.xml)  [![Guide to Researching Money Managers](https://no-cache.hubspot.com/cta/default/10700/58d0e681-26ce-4c58-866e-5ef2cea6ac38.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/58d0e681-26ce-4c58-866e-5ef2cea6ac38) ### Posts by Topics - [Retirement Planning (108)](https://www.letsassemble.com/wealth-management-blog/topic/retirement-planning) - [Economic/Market Outlook (93)](https://www.letsassemble.com/wealth-management-blog/topic/economicmarket-outlook) - [Investment Planning (89)](https://www.letsassemble.com/wealth-management-blog/topic/investment-planning) - [Money Manager Commentary (83)](https://www.letsassemble.com/wealth-management-blog/topic/money-manager-commentary) - [Nuveen Asset Management (48)](https://www.letsassemble.com/wealth-management-blog/topic/nuveen-asset-management) - [market perspective (46)](https://www.letsassemble.com/wealth-management-blog/topic/market-perspective) - [Doug's Quiz Corner (44)](https://www.letsassemble.com/wealth-management-blog/topic/dougs-quiz-corner) - [Retirement Income Strategy (43)](https://www.letsassemble.com/wealth-management-blog/topic/retirement-income-strategy) - [Portfolio Strategy (40)](https://www.letsassemble.com/wealth-management-blog/topic/portfolio-strategy) - [Money Manager Research (33)](https://www.letsassemble.com/wealth-management-blog/topic/money-manager-research) - [Blackrock Inc (32)](https://www.letsassemble.com/wealth-management-blog/topic/blackrock-inc) - [Federated Investors Inc (31)](https://www.letsassemble.com/wealth-management-blog/topic/federated-investors-inc) - [Investment Plan (30)](https://www.letsassemble.com/wealth-management-blog/topic/investment-plan) - [Navellier & Associates, Inc. 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The information provided in a blog post prepared by WrapManager or an associated person of WrapManager is generally limited to financial and economic issues, but may include a discussion of general interest items. The views and opinions expressed on this blog are purely the blog authors, and not necessarily those of WrapManager, Inc. Certain blog posts include information pertaining to WrapManager’s investment advisory services and the products and services of unaffiliated money managers. Such information is provided for information purposes only. Accordingly, information provided in a blog should not be construed by any consumer and/or prospective client as a solicitation to effect or attempt to effect transactions in securities or the rendering of personalized investment advice. Any subsequent, direct communication by WrapManager with a prospective client shall be conducted by a representative of WrapManager. 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