SECURE Act – Revisit your retirement plan in light of new law

Description

Abstract: The Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law in December 2019, is designed to improve access to tax-advantaged retirement plans. It also recognizes that many people work beyond the traditional retirement age. This article highlights SECURE Act provisions that push back required minimum distributions, lift the age limit for IRA contributions and reduce costs for businesses offering plans to workers. A sidebar explains how the SECURE Act may affect estate planning.