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Secure Act 2.0: Changes to Retirement Plans

By Retirement, Tax

As we approach the final quarter of 2023, we want to address some year-end planning issues related to retirement plan distributions and upcoming open enrollment elections.  There have been many changes to retirement planning, but most are minor or occur in later years. The SECURE Act 2.0 (“Secure 2.0” or the “Act”), signed in December 2022, was intended to enhance…

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Required Minimum Distribution (RMD) Changes Under The CARES Act

By Retirement
The CARES Act has suspended Required Minimum Distributions (RMDs) for several retirement plans, but not all. We’ve separated out what retirement plans had RMDs suspended for 2020 and which were not impacted by The CARES Act. Suspended: IRA RMDs (Including SEP and SIMPLE IRAs) Defined Contribution Plan RMDs (401(k) and 403(b)) Federal Thrift Savings Plan RMDs Governmental 457(b) Plan RMDs...
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