The SECURE Act, short for Securing Every Community Up for Retirement Act of 2019, took effect in January 2020. Congress’ intent in passing the SECURE Act was to expand retirement options, particularly 401(k)s through small businesses and for part-time employees. Further, it opens avenues to protect retirement income by offering annuities through 401(k) plans. This means….Other improvements include postponing the required minimum distribution (RMD) age to 72. It also allows traditional IRA owners to make contributions indefinitely. All of these changes are geared to help Americans grow and preserve their retirement accounts.
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