The SECURE Act and Retirement Beneficiary Designations
July 13, 2020
A new revenue-generating federal law effective in January 2020 accelerates when your future beneficiaries must pay income tax on inherited retirement account distributions. The Setting Every Community Up for Retirement Enhancement (SECURE) Act eliminates the long-favored “stretch IRA” which allowed the Designated Beneficiary to take payments (and pay the income tax thereon) over his or […]