✉news BusinessPersonal Finance first seen 2 d ago, last 2 d ago, peak #18

Working Past 70? Your 401(k) Can Keep Growing, Spousal IRA Rules Differ

Original: Working Past 70 and Still Contributing to a 401(k)? The IRS Lets You Keep Going, but Your Spouse's IRA Stops Taking Money the Year She Stops Earning, Unless You Fund It for Her

A personal finance explainer notes that workers over 70 can keep contributing to a 401(k) as long as they are still earning, under IRS rules. However, a spouse's IRA contributions depend on that spouse having earned income in the year. If the spouse no longer works, the only way to keep funding her IRA is through spousal contributions made from the working partner's income. Advisors recommend checking income timing and contribution deadlines before year end.

Why now: Retirees and older workers are looking for clarity on how long retirement accounts can keep accepting contributions.

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• Working Past 70 and Still Contributing to a 401(k)? The IRS Lets You Keep Going, but Your Spouse's IRA Stops Taking Money the Year She Stops Earning, Unless You Fund It for Her · 24/7 Wall St.

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