Some of you may have seen news headlines regarding the recently passed Setting Every Community Up for Retirement Enhancement (SECURE) Act. This law contains fairly significant changes to a few types of retirement and tax-deferred accounts beginning in 2020.
The article below discusses three of the more impactful changes to inherited IRA accounts, age for required minimum distributions (RMDs) and retirement plans for small businesses. Other areas involve certain rules for paying off student loans with 529 Plans, withdrawals for new parents and IRA contribution age limits.
These new parameters might provide planning opportunities for you or your family.
Please reach out to us if you have any questions, or would like to see how the SECURE Act may influence your financial plan.
Matt and Andrew