The Secure Act

[WSUCoug1994]

Some interesting changes are being sent to the Senate in The Secure Act

https://www.cnbc.com/2019/12/17/congress-close-to-approving-changes-to-retirement-savings-for-workers.html

[Threshkin]

Looks good to me.

Some might be unhappy with the inheritance changes though.  But I like that the changes are overall self funded.

[Buffaloski Boris]

Not much of a change. RMDs at 72 versus 70.5 isn’t much of a difference. Getting rid of the stretch IRA stinks. Another reason to prefer Roth’s if you don’t plan on spending it all before you pass on. Looks like a sweetheart deal for the insurance industry.

[TomTX]

Yeah, those annuities hucksters really slipped into an enormous market.

Are some annuities good? Sure. Far too many bad ones.

[Gin1984]

I'm pissed, just more ways to get money from the middle class.

[secondcor521]

Not much of a change. RMDs at 72 versus 70.5 isn’t much of a difference. Getting rid of the stretch IRA stinks. Another reason to prefer Roth’s if you don’t plan on spending it all before you pass on. Looks like a sweetheart deal for the insurance industry.

Note that Roths inherited by non-spouse beneficiaries are also subject to RMDs and are probably subject to the 10 year emptying rule in the SECURE Act.  No taxes are due, but the account still needs to be drained in that time limit and thus those monies lose their tax-free status over that timeframe.