JANUARY 8, 2020 • JEREMIAH BARLOW
The SECURE Act went into effect on January 1, 2020 and brings significant changes for retirement and other financial planning. Here are the notable provisions and takeaways from the SECURE Act that you need to know.
Age Limit Removed For IRA Contributions: There is no longer an age cap on contributions to a traditional IRA. Traditional IRAs will now be aligned with Roth IRAs. Before the SECURE Act, there was an age cap for contributing to a traditional IRA of age 70 ½. Individuals who continue …