In December, I wrote a memo about some of the significant changes congress made to the retirement system beginning in 2020. One of the major subjects receiving attention is changes to the required minimum distribution rules. I discussed some of these changes in December but would like to revisit this to correct one thing and clarify another.
On December 19th, the United States Senate delivered an early Christmas present to Americans in the form of significant changes to the rules governing retirement plans and individual retirement accounts. Known as the “Secure Act,” most of the changes are being welcomed positively, although a few are being looked at like lumps of coal.