House Bill 8567
116th Congress(2019-2020)
Required Minimum Distribution Modernization Act of 2020
Introduced
Introduced in House on Oct 9, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
8567
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
Required Minimum Distribution Modernization Act of 2020
This bill 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.
October 9, 2020
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10/09/2020
Referred to the House Committee on Ways and Means.
10/09/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:44:33 PM