SECURE Act: Changes to IRA Contributions and Retirement Plan Distributions

Posted By Jordon Rosen, CPA, MST, AEP

The SECURE Act made several positive changes including expanding the availability of being able to contribute to an IRA beyond age 70 ½ and increasing the age to 72 for when individuals have to begin taking retirement plan distributions. The Act, with certain exceptions, does away with the “stretch IRA” and replaces it with a 10-year payout rule for inherited retirement plan and IRA accounts beginning in 2020. View our video below to find out what you need to know now.  (Video Length: 24.14 minutes)

 

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