12. How the SECURE Act is changing retirement

Since 2006, the largest piece of legislative change in retirement rules took place last week and will go into effect January 1, 2020. The Setting Every Community Up for Retirement Enhancement or SECURE Act includes significant provisions aimed at increasing access to tax-advantaged accounts and preventing older Americans from outliving their assets. Lawmakers hope the new rules will do two things: encourage more business owners to offer retirement plans and encourage workers to save more for retirement. In this episode of Retiring Today, we about the increases in the RMD age from 70.5 to 72 for most people, small employers banding together to offer 401k plans, the elimination of the stretch IRA for most non-spousal beneficiaries and spousal rollover traps.  For more information on The SECURE Act, visit MerklePlan.com.