Welcome to Part II of our two-part blog discussing the SECURE Act and its impact on retirement and estate planning. The Act was signed by the President on December 20, 2019, and is effective as of January 1, 2020. Today’s focus is on the not-so-good parts of the Act.
In Part I, we summarized notable provisions of the Act, focusing on the increase in the Required Minimum Distribution (RMD) age and the removal of age restrictions for making IRA contributions (the good news). Today we’ll discuss the changes to the RMD rules for inherited retirement plans and the elimination of the “Stretch IRA” (the bad news). Let’s start byRead More