PRIVATE CLIENT SEMINAR. Congress appears to be on the verge of passing the first significant retirement account legislation in almost two decades. The new law, Setting Every Community Up for Retirement Enhancement Act, otherwise known as the SECURE Act is scheduled to go into effect January 1st, 2020, assuming the President signs the bill into law (which seems likely).
The SECURE Act includes the elimination of the stretch IRA in favor of the 10-year rule. Numerous other changes to the way retirement accounts will be treated are also in the new law. We will discuss these new changes as well as planning strategies that should be considered in light of the new law.