Secure Act may significantly impact your beneficiaries.
Effective January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (known as the “SECURE Act”) will impact many individuals with retirement plan assets. Now is the time to review your estate plan and consider how these changes will impact your retirement savings and estate plan.
The top three changes are:
1. Elimination of the ‘Stretch’ provisions for most non-spouse beneficiaries of defined contribution plans and IRA accounts.
2. Increase in the required beginning minimum distribution (RMD) age for retirement accounts from 70½ to 72.
3. Repeal of the maximum age for traditional IRA contributions.
Please see full publication below for more information.
