2020 Changes to IRAs

2020 Changes to IRAs
The Setting Every Community Up for Retirement Enhancement (SECURE) Act which is intended  to expand opportunities for individuals to increase their retirement savings, became law  on January 1, 2020. 

Important retirement account changes from the SECURE Act include:

•      The required minimum distribution age increases to 72, up from 70 1/2.
•      You can contribute to your traditional IRA after age 70 1/2.
•      Inherited retirement account distributions must now be taken within 10 years.
•      New parents can take penalty-free withdrawals.
•      Long-term part-time employees will now be eligible for 401(k) plans.

For more information, see PremierAmerica.com/SecureAct.

Please contact your Tax or Financial Representative for questions on how these provisions may affect you.

Back
This site uses cookies to store information on your computer/device and collect personal information. Cookies are strictly necessary/essential to run our website and also help us enhance site navigation, analyze site usage, and assist in our marketing efforts. We encourage you to read our Privacy Policy to learn more about how we use cookies and how we collect and use visitor data. By continuing to use this site, you consent to the placement of these cookies and our Privacy Policy.
Got it