The Setting Every Community Up for Retirement Enhancement Act, better known as the SECURE Act, was signed into law on Friday, December 20. The SECURE Act is one of the most dynamic changes to retirement legislation since the Pension Protection Act of 2006, and addresses a wide variety of retirement planning topics.
Given that many of these changes became effective on January 1, 2020, there are a few key areas that may immediately affect your retirement plan. Here are four major changes created by the new law:
1.) Required Minimum Distributions (RMDs) Will Start at Age 72, Not Age 70½
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