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Secure Act

Did you know…

December 20, 2019 President Trump signed into law the Setting Every Community Up for Retirement Enhancement Act, known as the SECURE Act. Here are the more notable updates:

  • The SECURE Act extends the RMD starting age from 70 ½ to 72.
  • Americans are living longer, and an increasing number are choosing to continue working beyond the traditional retirement age. As a result, the SECURE Act allows those individuals over age 70 ½ who have earned income to continue saving for retirement by contributing to a traditional IRA.
  • The SECURE Act now requires most non-spouse beneficiaries to withdraw taxable, inherited IRA assets WITHIN 10 years, rather than stretching them over their lifetime.
  • Prior to the SECURE Act, employers could exclude part-time employees when providing a defined contribution plan, such as a 401 (k), to their employees. Under the new law, certain part-time employees will now be able to participate in their employer-sponsored retirement plan.
  • Under the SECURE Act, providers of defined contribution plans will be required to disclose annually the monthly lifetime income value of retirement accounts.

Contact Information

Secure Financial Solutions

Address:
4203 W. 92nd Place
Merrillville, IN 46410

Phone:
(219) 791-0916

Contact Information

Secure Financial Solutions

Address:
4203 W. 92nd Place
Merrillville, IN 46410

Phone:
(219) 791-0916

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IMPORTANT CONSUMER INFORMATION

This site is for informational purposes only and is not intended to be a solicitation for or offering of any product or investment. The offer for sale of an insurance product may only be conducted in a state where the agent is licensed and the product is approved for sale. The providing of investment advice relating to securities may only be done by a properly licensed individual operating through a licensed affiliate entity, unless otherwise exempt. Comments about past performance are not to be construed as a guarantee or assurance of future performance. This website may contain concepts that have legal, accounting and tax implications. We do not provide specific legal or tax advice, nor promote, market or recommend any tax plan or arrangement. Consult a tax/legal professional for guidance with your individual situation. No representations are made as to the accuracy or completeness of the information contained herein or any information contained in any link provided herein, nor does a consumer visiting the web site create an agent-client relationship.

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