How SECURE 2.0 Might Change Retirement

Mary Schulz |

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 (eventually 75)

*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.

 

 

Sincerely,

Mary Schulz


 

Mary may be reached at (520) 495-2800 or Mary@schulzfinancialgroup.com.

Schedule an appointment with me by clicking here: https://go.oncehub.com/MarySchulz

For your convenience, we offer in-person, virtual, or phone meetings to suit your needs.

 

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC.

This material was prepared by MarketingPro, Inc. for use by Mary Schulz