The SECURE Act has passed (Setting Every Community Up for Retirement Enhancement) Here’s what you need to know, presented by Mark Sweeney, Mid-Atlantic Financial Group
The Setting Every Community Up for Retirement Enhancement (SECURE) Act is a bipartisan retirement bill that was included in a larger legislative package passed by the House of Representatives on December 17, 2019, and by the Senate on December 19, 2019. The bill includes reforms to Direct Contribution Plans, Direct Benefit Plans, IRAs, and 529 plans. Changes can have a direct impact on you and your retirement planning.
Join us for an overview of these reforms and how they will impact Retirement, Legacy and College Planning.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act is going to impact retirement, legacy and college planning:
Key Provisions:1. Increased Tax Credits for Small Businesses2. Expansion of Multiple-Employer Plans3. Expansion of Plan Eligibility to Long-Term Part-Time Employees4. Delay the Start of Required Minimum Distributions (RMDs)5. Repeal of Age Limitations for IRA Contributions6. Annuities and Lifetime Income Options in Retirement Plans
7. Eliminate “Stretch” IRAs
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