Overview of the Secure Act
Date:
Wednesday, March 11, 2020
12:00 p.m. - 1:00 p.m.
**LOCATION CHANGE**
CBA Offices
1290 Broadway, suite 1700
Denver, CO 802032
COST:
$20.00- Tax Section Members
$25.00- Non Section Members
$30.00- Non-CBA Members
$10.00- Call-In Participants
FREE- Students
Course description: In late 2019, the legislation dubbed the Secure Act passed in as part of the congressional spending bill. The Secure Act radically changes the post-death withdrawal options for beneficiaries of individual retirement accounts which will negatively impact beneficiaries’ future income tax liability. On the plus side, employees can now save later in life and wait longer to begin withdrawing from their accounts. The Secure Act also created new tax credits and employee enrollment obligations for small businesses. This presentation will provide a history of this legislation, a summary of its main provisions, and planning ideas for clients affected by the act. Given the scope of the legislation, all practitioners should be familiar with its terms in order to accurately advise clients.
Topics Covered:
Legislative history of the Secure Act
Summary of the “safe harbor” for annuity investments
Description of the expanded retirement plan eligibility options for part-time employees
Illustrations of the impact of the changes to required minimum distributions for participants and beneficiaries
Planning ideas for clients affected by the passage of the Secure Act
Speaker:
Klaralee R. Charlton
Applied for 1 CLE General Credit