Final IRS Rules Will Let Workers Keep Cash in 401(k)s Longer (2)

The IRS has issued final regulations raising the age at which workers must start taking funds out of their qualified retirement accounts.

The final rules (TD 10001; RIN:1545-BP82) released Thursday reflect changes from the SECURE Act 2.0 that allow account holders to leave 401(k), 403(b), and individual retirement account savings in place past the previously prescribed age of 70½ while still avoiding heavy excise taxes typically associated with late withdrawal of those assets.

The required minimum distribution age changes will allow workers to leave more cash in retirement accounts longer in order to accrue savings. The rule is the result ...