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Changes Coming to Roth Accounts

Faith & Finance (formerly MoneyWise)

Christian talk radio with Rob West

January 31, 2023

The recently passed $1.7 trillion Omnibus bill contains several provisions that are a win for retirement savers. 529 money can now be rolled into a Roth IRA without penalty, employers can help workers save for emergencies, retirement plans are more accessible to part-time workers, and Roth account holders don't have to start withdrawing money at age 72. Additionally, higher earners can put an extra $7,500 into their 401k without paying taxes on it. These changes will go into effect in 2024 and will help many people make wise decisions about their retirement savings.

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