The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law by President Trump on December 22, 2019. It will have a far-reaching effect on owners of IRAs and participants in tax-qualified retirement plans. SECURE includes substantial changes to the post-death distribution rules for 401(k) plans, 403(b) annuities, and IRAs. A notable change is the increase in the beginning date for Required Minimum Distributions (RMD) from age 70 ½ to age 72, i.e., there will be no ‘required beginning dates’ for 2021.

Much more significantly, SECURE eliminates the ‘stretch’ provision for IRAs inherited by most nonspouse beneficiaries. 

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