Things got a little bogged down for the SECURE Act (Setting Every Community Up for Retirement Enhancement, H.R. 1994, but it’s still pending, and is expected to be passed. It’s impossible to know what final form it will take, but a lot is riding on it.
The SECURE Act proposes a number of changes to retirement savings. These include changes to parts of IRAs and 401(k)s. Some of the changes look to be common sense, like broadening access to IRAs and 401(k)s, as well as including updating the rules to reflect that retirement is now a longer period of life. However, with these changes come potential limitations with stretch IRAs.