The House of Representatives overwhelmingly passed the Secure Act (Setting Every Community Up for Retirement Enhancement), 417 to 3. The bill, containing changes for
401(k)s and traditional IRAs, endorsed by AARP, is expected to pass in the Senate. Like all legislation, the devil will be in the details.
New is the introduction of annuities as a 401(k) option, the ability to convert some or all of your savings to lifetime guaranteed income. Since guarantees are made by the issuing insurance carrier, there will be intense focus on the financial health and claims paying ability of the carrier.Currently, when you reach age […]
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