Investors might be forgiven for not being aware of all of the provisions Congress put into the landmark retirement law it passed more than a year and a half ago. But the unknown could prove costly.
The provisions, some of which have yet to kick in, cover everything from the yearly mandated withdrawals known as required minimum distributions, or RMDs, to the types of accounts that can be used for certain retirement-plan contributions.
“Lots of rules have changed,” says Sarah Brenner, director of retirement education at Ed Slott & Co., a tax-consulting firm in Rockville Centre, N.Y. “If you happen to be affected by one of them, it could have a significant impact on your finances.”
Here are some of the rules:
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