The recently passed appropriations bill includes the long-awaited SECURE (Setting Every Community Up for Retirement Enhancement) Act and other retirement-related rules. This act went into law on January 1, 2020.  This is the most significant change in retirement plan rules since 2006. 

Here is a summary of the major components:

  • The minimum distribution age increased from 70 ½ to 72
  • No more stretch IRAs, beneficiaries must withdraw all assets of an inherited account wit
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