HAB911
HAB911's JournalRMD Age (for Some) Pushed Back to Age 72
Earlier this year, the House of Representatives passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. This month it was unexpectedly included in an appropriations bill passed by the Senate on December 19, 2019 and signed into law the next day.
Right now, those with traditional IRAs have to start taking required minimum distributions (RMDs) by April 1 following the year in which they turned 70 ½. The SECURE Act, recognizing that people live longer, pushes back the age at which you have to start taking RMDs. Starting in 2020, you may begin taking them by April 1 in the year following the year in which you turn 72.
TRANSLATION: If you were born on or before June 30, 1949, you won’t be able to delay until age 72.
https://search.fidelity.com/search/getSearchResults?question=SECURE%20ACT&type=o-NavBar
Interesting read: How the right sold out to Russia
Now that Rep. Adam Schiff and the House Intelligence Committee have opened an investigation into the Russia affair, and President Donald Trump has darkly warned in his State of the Union speech that “America will never be a socialist country,” it seems timely to recall a long-forgotten tale of revenge over unrequited love, in which members of the Koch family, which had helped build Joseph Stalin’s oil refineries, found their investments nationalized and themselves embittered.
In 1925, Fred C. Koch joined his MIT classmate Lewis E. Winkler to found the Winkler-Koch Engineering Company in Wichita, Kansas. After losing patent infringement lawsuits to more established oil and gas companies, they sought business overseas. Between 1929 and 1932, during Stalin’s first Five-Year Plan, Winkler-Koch built 15 thermal cracking units for Stalin, turning crude oil into gasoline.
Jane Mayer, in a book that grew out of a 2010 article in The New Yorker, an unauthorized assessment of the Koch family’s spending habits, “Dark Money” (2016), quotes Gus diZerega, a “former friend of Charles Koch”: “As the Soviets became a stronger military power, Fred felt a certain amount of guilt at having helped build them up.”
Perhaps. But that did not stop Winkler-Koch, in 1934, from providing engineering plans and overseeing construction of a huge oil refinery near Hamburg under the direction of Adolf Hitler, whom Fred Koch approached directly, purportedly greeting him with: “Heil Hitler.” The Winkler-Koch factory became a major source of fuel for the Luftwaffe (German Air Force) and the mechanized tank and motorized attack forces that powered the Blitzkrieg into Belgium, Denmark, Poland and France. The factory was destroyed by Allied bombers late in the war.
https://www.minnpost.com/community-voices/2019/02/how-the-right-sold-out-to-russia/
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