The Retirement Savings Adventures ContinueThe Retirement Savings Adventures Continue
The proposed SECURE Act tosses a match into the IRA gas can, and other developments.
The pending Setting Every Community Up for Retirement Enhancement (SECURE) Act will be a game changer when it comes to required minimum distributions (RMDs), and alert practitioners will find ways to adjust. Past years’ themes continue to appear in court opinions, as well as in private letter rulings.
SECURE Act
The SECURE Act was introduced and passed in the House of Representatives, but the Senate has yet to take it up.1 The bill would change rules for contributing to retirement savings plans and accounts, as well as for RMDs.
Those over age 70½ would be permitted to make contributions to individual retirement accounts but wouldn’t be permitted to use post-age 70½ contributions to fund qualified charitable distributions.
The time when a p...
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