Perhaps overlooked by many because it was signed into law only five days before Christmas, the Setting Every Community Up for Retirement Enhancement (SECURE) Act deserves your attention if an IRA plays a significant role in your retirement or estate planning.
The SECURE Act makes more than two dozen law changes, but three stand out from the others. On the positive side, the law eliminates the age restriction on contributions to a traditional IRA, and additionally raises the age at which required minimum distributions (RMD) must begin. On the negative side, and most relevant to estate planning, the law eliminates the IRA stretch, which was a hugely beneficial quirk of the retirement plan regulations.
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