I'm 77 and Still Working. Can I Avoid RMDs?

Core Insights - The IRS mandates required minimum distributions (RMDs) from tax-deferred retirement accounts, which are based on the account holder's age and account balance at the end of the previous year [4][5]. - Recent legislative changes, specifically the SECURE Act 2.0, have increased the RMD age to 73 starting in 2023 and will further increase it to 75 in 2033 [5]. - Roth IRAs are exempt from RMDs, and starting in 2024, designated Roth accounts within employer-sponsored plans will also be exempt from age-based RMDs [6]. RMD Requirements - RMDs are required for most tax-advantaged retirement accounts, with the exception of Roth IRAs [5]. - The previous RMD age was 70 ½, which was raised to 72 by the SECURE Act of 2019 before being adjusted again by the SECURE Act 2.0 [4][5]. Employment Status and RMDs - Individuals who are still employed do not have to take RMDs from their current employer's retirement plan [8]. - However, RMDs must still be taken from retirement accounts associated with former employers, and rolling over those funds into the current plan can help avoid RMDs from old accounts [8].