📅 2026 Update: Recent Changes in Retirement Savings

Since the original article was published, there have been important updates in U.S. personal finance law, especially regarding retirement savings. Key changes include new rules under the SECURE 2.0 Act, which impact how individuals manage their retirement accounts. The earlier article continues further down this page.

🏦 SECURE 2.0 Act Changes

The SECURE 2.0 Act, enacted in December 2022, brought significant changes to retirement savings. One notable change is the increase in the Required Minimum Distribution (RMD) age. Now, individuals born between 1951 and 1959 must start taking RMDs at age 73, while those born in 1960 or later will begin at age 75 starting in 2033.

  • 🔄 RMD Penalty Reduction: The penalty for failing to take an RMD has dropped from 50% to 25% of the RMD amount. If the mistake is corrected within two years, the penalty can be as low as 10% for IRAs.

🚫 Roth 401(k) RMD Exemption

As of 2024, individuals holding Roth accounts in employer retirement plans, like 401(k)s and 403(b)s, are exempt from RMDs. This change allows account holders to grow their savings without mandatory withdrawals.

📈 Catch-Up Contribution Increases

Starting January 1, 2025, individuals aged 60 to 63 will be able to contribute up to $11,250 in catch-up contributions to eligible retirement plans. This is an increase from the previous limit of $8,000.

🎓 529-to-Roth IRA Rollovers

From 2024, individuals can roll over up to $35,000 from 529 college savings plans to a Roth IRA under certain conditions. This gives families more flexibility in managing educational savings.

📅 Emergency Withdrawals

Beginning in 2024, individuals can withdraw up to $1,000 per year from retirement accounts for emergencies without facing the 10% early withdrawal penalty. They can repay this amount within three years.

📌 Key Points Summary

  • 🔹 RMD age increased to 73 or 75.
  • 🔹 Roth accounts no longer require RMDs.
  • 🔹 Catch-up contributions raised to $11,250.
  • 🔹 529 plans can rollover to Roth IRAs.
  • 🔹 Up to $1,000 can be withdrawn for emergencies without penalties.

💡 Tips for Understanding Your Retirement Options

Reviewing your retirement options is essential. It's important to discuss your specific circumstances with an attorney to make informed choices regarding your financial future.

🧾 Understand RMD Requirements

Be aware of the new RMD age requirements. If you were born between 1951 and 1959, you must start taking distributions at age 73. For those born in 1960 or later, the age is 75.

💵 Explore Roth IRA Benefits

Consider opening a Roth IRA to benefit from tax-free growth. With the new RMD exemption for Roth accounts in employer plans, you can leave your money to grow longer without mandatory withdrawals.

🎯 Maximize Catch-Up Contributions

If you’re between 60 and 63, take advantage of the increased catch-up contribution limit starting in 2025. This can significantly boost your retirement savings.

🎓 Consider 529 Rollovers

If you have leftover funds in a 529 plan, think about rolling over up to $35,000 to a Roth IRA starting in 2024. This can help you utilize those savings more effectively for retirement.

🚀 Plan for Emergency Withdrawals

Plan ahead for emergencies by knowing you can withdraw up to $1,000 per year from your retirement accounts without penalties starting in 2024. This can offer peace of mind during unexpected financial situations.

❓ Frequently Asked Questions

❓ What is the new age for RMDs?

Individuals born between 1951 and 1959 must take RMDs starting at age 73. Those born in 1960 or later must start at age 75.

🤔 Are Roth IRAs still required to take RMDs?

As of 2024, Roth accounts in employer retirement plans, like 401(k)s, are exempt from RMDs.

💼 What are catch-up contributions?

Catch-up contributions allow individuals aged 60 to 63 to contribute more to their retirement plans. Starting in 2025, this limit will increase to $11,250.

📚 Can I rollover 529 plans to Roth IRAs?

Yes, beginning in 2024, you can roll over up to $35,000 from 529 plans to a Roth IRA under specific conditions.

💵 How can I access my retirement funds for emergencies?

Starting in 2024, individuals can withdraw up to $1,000 per year from retirement accounts without incurring a penalty for early withdrawal.

📅 Where can I find more information on retirement planning?

Resources are available through the Consumer Financial Protection Bureau (CFPB) and the Department of Labor (DOL) for guidance on retirement planning options.

⚖️ Recent Cases Affecting Retirement Planning

Recent court rulings have impacted retirement planning, particularly around fiduciary responsibilities and the SECURE 2.0 Act. These decisions highlight the importance of understanding your rights and obligations regarding retirement accounts.

For further details, readers can explore more rulings on the news page.

End of October 2026 Update





What is the OTC Bulletin Board?

The OTC Bulletin Board is an electronic, interdealer quotation system that displays real-time quotes, volume information for over-the-counter equity securities (those securities not listed on the NASDAQ or a national securities exchange), and last-sale prices for many equity-securities in the United States.

The OTC Bulletin Board is a service delivered to broker-dealers who may subscribe to the system for a yearly fee. Once the service is acquired, a broker-dealer or financial institution can effectively look up prices or enter quotes for OTC securities.

The Financial Industry Regulatory Authority is the administrative and authoritative body responsible for running and overseeing the OTCBB. That being said, FINRA announced in September of 2009 that the agency would be selling the OTCBB. The sale was initiated because competitors—like the Pink OTC Markets who are rumored to purchase the OTCBB—are stripping the OTCBB of its listing powers. Prior to 2008, the OTCBB collected 100% of quotes, but this number has declined due to the rise in competition.

Understanding The OTCBB

The OTCBB is not part of the NASDAQ stock exchange; however, all companies quoted or listed on the OTCBB must satisfy the filing and full reporting requirements of the SEC. Although regulations exist, the companies listed on the OTCBB possess no responsibility to report specifics associated with a market capitalization, a minimum share price, and corporate governance. That being said, companies may be “de-listed” from the OTCBB for falling below a minimum share price, a minimum capitalization or other requirements that end up being quoted on the OTCBB.

Those stocks not listed or quoted on the OTCBB (stock of non-reporting companies that do not possess current SEC filings) may be quoted in the Pink Sheets. The majority of companies listed on the OTCBB are dually quoted, meaning they are listed on both the OTCBB and the Pink Sheets.

The OTCBB is an electronic trading service offered by the National Association of Securities Dealers. Companies listed on the OTCBB are required to file current financial statements with either the SEC or a banking/insurance regulator.



What kind of Stocks are listed on the OTCBB

Those stocks traded in OTC markets (such as the Pink Sheets or the OTCBB) typically possess minimal market capitalization.

Stocks traded and quoted on the OTCBB possess low trade volumes and are typically classified as microcaps or penny stocks. As a result of this classification, the majority of retail and institutional investors will avoid the stocks listed on the OTCBB due to the risks associated with share price manipulation and the greater potential for fraud.

Due to the aforementioned risks, the Securities and Exchange Commission commonly issues warnings to investors to be aware of manipulation and fraud schemes associated with the companies listed on the OTCBB. As a result of this investor skepticism, most companies will seek listing on more established marketplaces such as the NYSE, AMEX, or NASDAQ.