{"id":4437,"date":"2020-02-16T10:44:19","date_gmt":"2020-02-16T15:44:19","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=4437"},"modified":"2020-04-16T10:57:43","modified_gmt":"2020-04-16T14:57:43","slug":"the-secure-act-significant-changes-to-retirement-account-rules","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/the-secure-act-significant-changes-to-retirement-account-rules.html","title":{"rendered":"The SECURE Act:  Significant Changes to Retirement Account Rules"},"content":{"rendered":"<p>On December 20, 2019, President Trump signed into law the SECURE (Setting Every Community Up for Retirement Enhancement) Act (the \u201cAct\u201d), which significantly affects the law regarding taxable retirement accounts such as traditional IRAs and 401(k) plans.[1]<\/p>\n<p><strong><u>Benefits of the Act<\/u><\/strong>.\u00a0 The following are among the pertinent beneficial provisions of the Act effective for calendar year 2020 and beyond:<\/p>\n<ul>\n<li>The age at which a plan participant[2] must take annual required minimum distributions (RMDs) has been raised to age 72 from 70 \u00bd, in recognition of longer life expectancies.\u00a0 Note that the new rule applies only to persons who are over age 70 \u00bd in 2020 and following.<\/li>\n<\/ul>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/the-secure-act-significant-changes-to-retirement-account-rules.html\"  title=\"Continue Reading The SECURE Act:  Significant Changes to Retirement Account Rules\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>On December 20, 2019, President Trump signed into law the SECURE (Setting Every Community Up for Retirement Enhancement) Act (the \u201cAct\u201d), which significantly affects the law regarding taxable retirement accounts such as traditional IRAs and 401(k) plans.[1] Benefits of the Act.\u00a0 The following are among the pertinent beneficial provisions of the Act effective for calendar [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[293,65,343],"tags":[],"coauthors":[295],"class_list":["post-4437","post","type-post","status-publish","format-standard","hentry","category-robbins","category-insights","category-wills-trusts-estates-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The SECURE Act: Significant Changes to Retirement Account Rules &#8212; February 16, 2020 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"On December 20, 2019, President Trump signed into law the SECURE (Setting Every Community Up for Retirement Enhancement) Act (the \u201cAct\u201d), which\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/the-secure-act-significant-changes-to-retirement-account-rules.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The SECURE Act: Significant Changes to Retirement Account Rules &#8212; February 16, 2020 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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