SECURE Act 2.0 Change

May 26, 2023, 08:27 AM

The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0, which went into effect on December 29, 2022, made an important change to the Internal Revenue Service (IRS) Required Minimum Distribution (RMD) rule. The minimum age at which you must start taking RMDs from a retirement account has changed from 72 to 73. This applies to people who reach age 73 after December 31, 2022. To further clarify, if you reached age 72 prior to December 31, 2022, you are still required to take RMDs under the old rule. Also, the penalty for not taking a Required Minimum Distribution has decreased from 50% to 25%.

Additionally, SECURE Act 2.0, expands the definition of “qualified public safety employees” in Code Section 72(t)(10)(B) to include employees providing services as “a corrections officer or as a forensic security employee providing for the care, custody, and control of forensic patients.”

Who does this affect?

You must begin taking required minimum distributions at age 73 according to IRS rules:

IF you are a:

  • MOSERS retired or “separated from service” member or
  • A surviving spouse of a member


  • You maintain a retirement savings account with MO Deferred Comp or
  • You will receive or have already rolled over a lump-sum payment (such as from BackDROP or a refund of employee contributions) to a qualified retirement plan 
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