Webcast: How the SECURE Act affects retirement and other planning

June 24, 2020

Recording           |            Slides

On December 20, 2019, President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act, ushering in the most significant direct changes to the laws for retirement accounts since the Pension Protection Act of 2006. The ‘headline’ from the SECURE Act is its changes to the ‘stretch’ rules for designated beneficiaries, but that’s far from the only change that will impact advisors and their clients. The SECURE Act also changes the starting age for RMDs, eliminates the age limit for Traditional IRA contributions, creates a new exception to the 10% early distribution penalty, eliminates burdensome rules that prevented wider-spread adoption of MEPSs, reversed changes to the so-called “Kiddie Tax” made by the Tax Cuts and Jobs Act, and much more!

In this webcast, Jeff Levine, CPA/PFS, will:

  • Compare how the SECURE Act does (and does not) change the rules for beneficiary RMDs.
  • Determine how the change to the starting age for RMDs impacts has ripple effects to other areas.
  • Analyze how the QCD anti-abuse rule can negate much of the benefit to making deductible Traditional IRA contributions at 70 1/2 and beyond.
  • Differentiate clients whose plans may need to be revised as a result of the SECURE Act’s changes.
  • Identify the SECURE Act’s non-retirement-related changes.