Posts Tagged ‘required minimum distributions’
SECURE Act 2020 changes to IRAs
The Secure Act, or the Setting Every Community Up for Retirement Enhancement Act went into effect January 1, 2020. The Secure Act changed the Required Minimum Distribution (RMD) age from 70 ½ to 72 years of age. If you were born prior to July 1, 1949 you will still need to take your 2019 RMD…
Read MoreDeadline for Distributions
Reminder: Retirees born prior to July 1, 1949 must take your retirement plan required minimum distributions (RMD) by December 31, 2019. The RMD rules apply to: Retirees with traditional IRAs Retirees with traditional (Simplified Employee Pension) or SEP IRAs Retirees with Savings Incentive Match Plans for Employees (SIMPLE) IRAs Participants in workplace retirement plans such…
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