SECURE 2.0 Act – Retirement Changes You Need to Know

We’ve gone through all of these different SECURE 2.0 Act provisions, which touch on a range of planning items and dates, so that you can really focus on what’s most important. This episode will help you get a better understanding of the changes, how they might impact you, and what planning opportunities you need to be aware of.

Your Guide:

Congress recently passed SECURE 2.0 Act, which includes over 90 new provisions for retirement plans. The goal for the legislation is to help Americans improve their retirement savings. This effort is a continuation of the original Setting Every Community Up for Retirement Enhancement (SECURE) Act that was signed at the end of 2019.

We’ve gone through all of these different SECURE 2.0 Act provisions, which touch on a range of planning items and dates, so that you can really focus on what’s most important. This episode will help you get a better understanding of the changes, how they might impact you, and what planning opportunities you need to be aware of.

Here’s some of what we discuss in this episode:

  • More changes again to the required minimum distribution ages.  [7:16]
  • Elimination of RMD requirements for Roth 401(k) plans.  [12:31]
  • Reduction in penalty for missing your RMD withdrawal. [14:16]
  • Catch-up contribution changes. [15:52]
  • The ability to roll 529 plan into a Roth. [18:22]
  • Employer can make a deposit into an emergency savings account for employee. [26:38]

Listen to more of our conversation in the podcast or reach out to us to talk about your financial situation and goals.

Thanks for checking out the Your Retirement Elevated Podcast. We’ll talk to you again on the next show.

 

DISCOVER MORE...

SUBSCRIBE

Apple PodcastsGoogle PodcastsSpotifyStitcherTuneIniHeartRadio

ABOUT YOUR HOST...

Scott Dougan founded Elevated Retirement Group in 2003 in order to fill a niche he felt was not being addressed properly in the retirement planning environment – helping retirees and pre-retirees in the Kansas City metro area find answers to issues that may affect the quality of life during their retirement.

Scott is a Registered Financial Consultant (RFC) and holds a Series 65 Investment Adviser Representative license, which holds him to the fiduciary standard. He also holds insurance licenses in Kansas, Missouri and other states.

GET IN CONTACT...

HAVE YOUR QUESTION FEATURED ON THE SHOW

MORE WAYS TO CONTACT

info@erg-kc.com

(913) 393-4724