SECURE Act: Key Changes in 2019 Tax Law Affecting Retirement Rules

Wednesday, January 29, 2020

Major tax changes typically only occur once every decade or so. But in the last weeks of 2019, Congress passed the SECURE Actthe second significant tax act in two years to have a wide-ranging effect on retirement and tax planning for high-net-worth individuals.

The changes most directly affecting high-net-worth investors include:

  • Elimination of "stretch" IRAs
  • Required minimum distributions (RMDs) begin at age 72
  • Qualified charitable distribution (QCD) remains at age 70½
  • Extension of several tax deductions which had expired under the Tax Cuts and Jobs Act (TCJA) of 2017

Our latest publication, Key Changes in 2019 Tax Law Affecting Retirement Rules, highlights these changes. Contact your William Blair advisor to discuss how these changes could affect your wealth planning.

Key Changes in 2019 Tax Law Affecting Retirement Rules

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