US HB8567 | 2019-2020 | 116th Congress

US Congress House Bill 8567 (Prior Session Legislation)

Status

Spectrum: Bipartisan Bill
Status: Introduced on October 9 2020 - 25% progression, died in committee
Action: 2020-10-09 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Revises rules requiring mandatory minimum distributions from tax-exempt retirement plans. Specifically, it increases from 72 to 75 the age at which plan participants must being making distributions from their accounts. It also exempts defined contribution plans from mandatory distribution requirements if the aggregate value of an employee's entire interest in all such plans does not exceed $100,000.

Title

Required Minimum Distribution Modernization Act of 2020

History

Date	Chamber	Action
2020-10-09	House	Referred to the House Committee on Ways and Means.
2020-10-09	House	Introduced in House

Same As/Similar To

HB8696 (Related) 2020-10-27 - Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.