Secure Act

The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act became law on December 20, 2019 and changed several key features for retirement accounts. The SECURE Act repealed the maximum age for which traditional IRA contributions may be made, increased the RMD age for retirement accounts to 72 years old, and requires that inherited IRA distributions must be taken within 10 years (a grandfather clause exists for currently held inherited accounts).