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.
