Ringing in the New Year with the SECURE ACT

Effective January 1, 2020, the Setting Every Community Up for Retirement Enhancement (SECURE) Act implements a number of new rules for retirement savings plans. Most notably, the SECURE Act makes changes to the Required Minimum Distribution (RMD) age for traditional IRAs, repeals the maximum contribution age for traditional IRAs, and eliminates the tax efficient “stretch” rules on qualified plans for nearly all non-spousal beneficiaries.

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