Home Public Affairs How the SECURE Act changes retirement planning

How the SECURE Act changes retirement planning

by The 100 Companies

The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was recently signed into law, making several significant changes to how employers, attorneys and individuals will approach retirement

• Limitations on “stretch” IRAs.

• Age for beginning required minimum distributions is now 72 (vs. 70 1/2).

• Traditional IRA owners can make contributions beyond age 70 1/2.

• Penalty-free withdrawals for birth/adoption expenses.

• 529 savings can go to repaying student loan debt.

• New rules for small businesses to establish “pooled” retirement plans.

• Expanded eligibility for part-time workers to participate in employer retirement plans.

• Relaxed “safe harbor” rules for setting up small business 401(k) plans.

Brandon A. Betts, Meyer, Unkovic & Scott

You may also like

The Oklahoma 100