Understanding the Secure Act
The SECURE Act is the most important legislation to impact the retirement planning space in many years. We highlighted the pieces we believe were important for most people in our recent economic update. However, we are including the synopsis from the House Committee On Ways & Means here so that you can read the abbreviated breakdown of each section in more detail. The actual bill (H.R. 1994) can be accessed via the Congressional website at: https://www.congress.gov/bill/116th-congress/house-bill/1994/text
We know this is a lot of information so we want to remind you that we are here to answer any questions you might have. Please do not hesitate to ask. Our purpose is to assist you in making good decisions over time in order to achieve your objectives.
Provided below are two informative pieces we picked for those that want to dig deeper.
Congress recently passed—and the President signed into law—the SECURE Act, landmark legislation that affects the rules for creating and maintaining employer-provided retirement plans. Whether you currently offer your employees a retirement plan or are planning to do so, you should consider how these new rules may affect your current retirement
Provided below is the House Committee on Way & Means summarization of the SECURE Act.