SECURE Act - 4 Items Everyone Should Know
On December 20, 2019 the SECURE Act, or “Setting Every Community Up for Retirement Enhancement Act” went into effect. It offers several major adjustments to how we save, prepare for and enjoy retirement. This legislation will have substantive repercussions for individuals planning for their financial futures especially these four items: 1) Elimination of the Stretch Provision 2) Change of RMD age to 72 3) Qualified birth or adoption distribution 4) Certain timely tax provisions