Important changes in the SECURE Act

Important changes in the SECURE Act include:

• The required minimum distribution age (“RMD”) increased from 70.5 to 72 years old.
• Removal of the age limit for IRA contributions.
• The requirement that inherited retirement account distributions must be taken within ten years.
• Penalty-free withdrawals for new parents.
• Long-term employees working part-time can enroll in 401(k) plans.