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The Secure Act of 2019

The Secure Act of 2019

| December 17, 2019

Included in the 2020 spending bill passed through congress this week is The Secure Act of 2019. This piece of legislation contains some sweeping changes to IRA rules.  Here is a summary of the changes:

  • The age for required minimum distributions (RMD) would increase from 70.5 to 72. If you haven’t reached 70.5 by the end of 2019, you can wait until age 72.
  • It eliminates the prohibition on traditional IRA contributions for those age 70.5. Older workers can continue to add to their IRA accounts for their lifetime as long as they are working.
  • Allow new parents to take up to $5000 penalty free from their IRA or 401k).
  • It requires that inherited IRAs are depleted within 10 years. There is no longer the ability for non-spouse beneficiaries to continue the IRA for their lifetime.

These changes are going to have an important impact on retirement and estate planning. We plan to discuss these changes with our clients at our review meetings.


*The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  All investing involves risk including loss of principal.  No strategy assures success or protects against loss.