There are some moves afoot in the House Ways and Means Committee to revamp Americans’ retirement savings accounts.  A couple of them include

increasing the flexibility associated with retirement accounts. If approved, individuals would be allowed to stash money into IRA accounts beyond the current age limit of 70½. It would also delay when individuals are required to begin taking required minimum distributions to 72, from 70½.

These are moves in the right direction, but they seem to proceed from a false premise, and some unanswered—unaddressed, even—questions.  One question is why there should be any age limit (or any other limit) on saving money into IRA (or other retirement) accounts.  Another question also is age-related: why there should be any age after which distributions from retirement accounts must be taken.

Those lead to the false premise.  Whose money is it, anyway, both before and after it goes into those retirement accounts? The worthies on the Committee seem to be assuming its Government’s money and not each citizen’s.

As interim steps, these are fine ones to take.  They cannot be any sort of final answer.