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House Ways and Means Chairman Richard Neal, D-Mass. House Ways and Means Chairman Richard Neal, D-Mass. (Photo: Anna Moneymaker/Bloomberg)

House Ways and Means Committee Chairman Richard Neal, D-Mass., plans to reintroduce in the new Congress the Securing a Strong Retirement Act of 2020, which would boost the required minimum distribution age from 72 to 75.

“Strengthening retirement policy continues to be a priority of mine, and improving Americans’ long-term financial security has taken on even greater importance now that so many people have had to draw from their savings during the Covid crisis,” Neal told Treasury & Risk sister publication ThinkAdvisor in a Tuesday email message. “I plan to reintroduce the Securing a Strong Retirement Act this Congress and expect it will pass with broad bipartisan support, just as the SECURE Act did in 2019.”

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