Retirement/Income – Putnam Wealth Management

SECURE 2.0 key provisions to impact planning

The SECURE 2.0 Act seeks to enhance retirement savings and will likely impact a variety of retirement planning and tax strategies.

SECURE 2.0 garnered significant bipartisan support in Congress and expands on the goals of the 2019 bill to help people save more for retirement.

Year-end is an opportune time to review retirement savings plans and determine if any adjustments are needed.

There are several key points for savers to consider as the rules around taking Roth IRA distributions differ from other types of retirement accounts.

Reaching certain age milestones can be significant for many different reasons, including financial planning.

Senate passage of the EARN Act moves retirement reform legislation closer to a vote before both chambers of Congress.

Beginning in July, advisors and firms must follow new rollover rules issued by the Department of Labor.

Following House passage of the retirement reform bill known as SECURE 2.0, the next stop to advance this comprehensive bill will be in the Senate.

While many retirees know the basics of RMDs there are many aspects of the process that may not be fully understood.