The SECURE Act: what it means for you
As you may know, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019) was signed into law on December 20, 2019, by President Trump. This landmark piece of retirement legislation represents the most significant change to the retirement industry since the Pension Protection Act (PPA) of 2006. It could have an impact on decisions you may want to make regarding your retirement savings strategy. We have provided a one-page summary below that highlights some of the key changes as well as some additional detail regarding the specific provisions. Please feel free to reach out to your financial advisor if you have specific questions regarding the changes or contact us through the "Chat with a CFS Advisor" button below.
The SECURE Act explained
Join Compass Advisor, Justin Van Houten, and Jason Parkin as they dig into a couple of the keys areas of the SECURE Act and what it may mean for you. They specifically discuss changes in the RMD (required minimum distribution) age requirement from 70 1/2 to 72 years old and the "Stretch" RMD change to a 10-year distribution limit for inherited IRAs.