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Posts Tagged ‘Setting Every Community Up for Retirement Enhancement’

The SECURE Act and its Impact on IRAS, 401(K)S and 529 Savings Accounts

access_time Posted on: March 26th, 2020

The SECURE Act On December 20, 2019 Congress passed a comprehensive governmental spending package, which included provisions creating the Setting Every Community Up for Retirement Enhancement (SECURE) Act.  Congress’s intent with the legislation was to initiate long overdue revisions to make saving for retirement accessible for more Americans.  Most provisions of this important retirement legislation go into effect on January 1, 2020 and affect individual retirement accounts, 401(k) plans and 529 college savings accounts. Below are a few of the highlights of the SECURE Act: Age for required minimum distributions (RMDs) raised to 72.  Americans will no longer be required to withdraw assets… read more »