Larry Hungerford: Pluses and one big minus of the new federal SECURE Act

Important new retirement legislation named the Setting Every Community Up for Retirement Enhancement, or SECURE, Act became law when President Donald Trump signed it on Dec. 20, 2019.

Perhaps the best feature of the SECURE Act makes it possible for small businesses to band together to offer retirement plans, particularly the popular 401(k) plans. Currently, barely more than half of all employers provide them. The new law also makes it much “easier for employers to offer annuities with lifetime guaranteed income streams within their retirement plans.”

However, the SECURE Act’s huge disadvantage is that it ends the “stretch IRA” — lifetime […]

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