OneEyedDiva
SF VIP
- Location
- New Jersey
The following may or may not be a good thing for our heirs.
"One other key change in the new bill is paying for all this: the removal of a provision known as the stretch IRA, which has allowed non-spouses inheriting retirement accounts to stretch out disbursements over their lifetimes. The new rules will require a full payout from the inherited IRA within 10 years of the death of the original account holder, raising an estimated $15.7 billion in additional tax revenue. (This will apply only to heirs of account holders who die starting in 2020.)"
Scroll down to Major Provisions of the SECURE Act to read about other retirement plan changes.
https://www.investopedia.com/what-is-secure-act-how-affect-retirement-4692743
"One other key change in the new bill is paying for all this: the removal of a provision known as the stretch IRA, which has allowed non-spouses inheriting retirement accounts to stretch out disbursements over their lifetimes. The new rules will require a full payout from the inherited IRA within 10 years of the death of the original account holder, raising an estimated $15.7 billion in additional tax revenue. (This will apply only to heirs of account holders who die starting in 2020.)"
Scroll down to Major Provisions of the SECURE Act to read about other retirement plan changes.
https://www.investopedia.com/what-is-secure-act-how-affect-retirement-4692743