Page 50 - Secure Act News Today

Internal Revenue Service is working to execute statutory changes outlined by Setting Every Community Up for Retirement Enhancement Act SECURE Act. IRS streamline required minimum distribution RMD requirements for Internal Revenue Code IRC Section 403b plans Section 401a.

Employees are 15 times more likely to build retirement savings if they have automatic payroll deductions at work, according to AARP. But such plans don't exist for about 55 million American workers.

The AARP's Public Policy Institute says employees are 15 times more likely to build retirement savings if they have automatic payroll deductions at work. "For employers who don't offer their own plans, these help address a lot of things that are barriers," said Angela Antonelli, executive director of the Center for Retirement Initiatives at Georgetown...

A flurry of state laws and bills would allow employees of small businesses to set up Individual Retirement Accounts (IRAs) through state-sponsored programs, making it possible for workers to save

The Secure Act dramatically limited “stretch IRAs,” which allowed people to draw down an inherited IRA over their lifetimes.

Congress is currently working on a bipartisan effort to increase retirement security and benefits for Americans, called the Secure Act 2.0

The deadline to submit 2021 tax returns or file for an extension is fast approach, we’ll keep you up-to-date with the latest financial news.

The House of Representatives recently passed a bill that extends the amount of time that Americans have to save for retirement, as well as other changes.

He hopes to help close the gap between what people have and what theyll need.

It’s easy to slip into a “tax breaks good, tax hikes bad” mindset. But that ignores...