Among the things missing from President Joe Biden’s revised framework for the Build Back Better Act unveiled by the White House on Thursday? ALL the retirement-related provisions. This is both good and bad news, with some provisions backed by the retirement industry and others opposed by it all stripped out of the leaner $1.75 trillion social spending and climate bill, as first reported Thursday by the American Retirement Association. The much-ballyhooed auto-IRA provision? Gone. A series of provisions designed to close the so-called “back door” Roth IRA and “Mega” Roths? Adios.
This is both good and bad news, with some provisions backed by the retirement industry and others opposed by it all stripped out of the leaner $1.75 trillion social spending and climate bill, as first reported Thursday by the American Retirement Association.
The much-ballyhooed auto-IRA provision? Gone. A series of provisions designed to close the so-called “back door” Roth IRA and “Mega” Roths? Adios.