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The SECURE Act: Major Retirement Plan Changes Become Law

Despite all the gridlock in Washington, as well as an impeachment, the SECURE Act is poised to pass through Congress and be signed into law. It changes a number of important retirement plan rules. The act runs over 120 pages, so the experts will be poring over it for some time. Meanwhile, a number of sources have weighed in on what they believe are the key provisions. (Note that last-minute alterations and more detailed analysis may lead to changes in the coming weeks.)

Th Society for Human Resource Management listed several changes as particularly noteworthy. The act will allow:

Kiplinger also put together a list of major changes, noting that the act:

Finally, the government will be repealing the controversial Cadillac tax on high-end health plans. This repeal is part of a year-end spending bill.

All these changes will be phased in at different times. There are also exceptions and other subtleties. Whether you’re concerned about your own family’s issues or plans that your company runs, it’s best to keep in close touch with financial professionals to make sure you make a smooth transition to the new rules.

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