How SECURE 2.0 Might Change Retirement
The SECURE Act of 2019 represented the biggest update to retirement law in over a decade. Now, Congress is deliberating on what “SECURE 2.0” legislation might entail.
In March, the House passed the Securing a Strong Retirement Act with a bipartisan 414-5 vote. The Senate is still weighing numerous proposals for their version, the Rise & Shine Act.
Proposals under consideration include:
- Raising the Required Minimum Distribution (RMD) age to 73
- Increasing catch-up contributions to $10,000
- Creating Roth versions of SIMPLE and SEP IRAs
Reconciling these bills will take time, but it’s clear that SECURE 2.0 could bring about another raft of significant changes for business owners and
employees. As always, I’m keeping an eye out for what you need to know
and will be in touch as events develop.
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Dr. Jason Van Duyn
AQuest Wealth Strategies
Dr. Jason Van Duyn CFP®, ChFC, CLU, MBA is a Registered Representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA & SIPC. The LPL Financial registered representative associated with this site may only discuss and/or transact securities business with residents of the following states: IN, IL, TX, MI, NC, AZ, VA, FL, OH and CO.