The age when older Americans must start making withdrawals from retirement accounts could change yet again.

Under a provision in proposed retirement legislation pending in Congress, required minimum distributions, or RMDs, would start at age 75 by 2032, up from age 72 — which only took effect last year after the 2019 Secure Act raised it from age 70½.

The proposed adjustment would generally not impact most retirees: The majority — 79.5%, according to the IRS — take more than their RMD because they need the money. However, for the 20.5% who take only the minimum amount required, the extra years could provide more time to strategize how to best handle those assets.

“As a financial advisor, I cheer [a higher age] because we’d get more flexibility and more years to do planning,” said certified financial planner Mark Wilson, president of MILE Wealth Management in Irvine, California. “Even if most people are drawing more than the required amount, it would still be a positive thing.”

RMDs are usually a thorn in the side of retirement-account owners who don’t need the money when the government says they have to start withdrawing it.

“I think they should just eliminate lifetime RMDs altogether,” said Ed Slott, CPA and founder of Ed Slott and Company. “They’re a real nuisance for seniors.”

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