Odds of the SECURE Act Passing in 2019

By Mark Roath, Regions Private Wealth Management

As we approach the end of the year, it’s a good reminder to you and your clients to make sure the Required Minimum Distribution (RMD) is taken from IRAs when necessary.  

Earlier in the year, the House passed (with almost unanimous bipartisan support) the first major changes to retirement plan laws since the 2006 Pension Protection Act, which included new rules for the minimum distribution age and RMDs. The Setting Every Community Up for Retirement Security Act (SECURE Act) was passed in May and it was sent to the Senate where it was thought it would find unanimous support. With time running out and no recent action taken, the odds of the passing of the SECURE Act look slim in the Senate in 2019.   Stay tuned for any last-minute movement in the bill. For recent articles about the odds of the SECURE Act passing in 2019 and a summary of the major provisions of the bill, go here and here.

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