The SECURE Act of 2019: What You Need to Know

Following a decade of calls to reform laws pertaining to IRAs (and other tax-deferred retirement accounts), the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed through Congress and was signed into law in December of 2019. This Act included major changes to some of the most popular retirement plans with the goal of easing the looming retirement savings crisis. In this special presentation, Allworth CEO Scott Hanson lays out the specifics of the new law, and then explains to viewers how to manage tax-deferred retirement accounts going forward.

Why was the SECURE Act passed?

Life expectancy continues to grow, and more and more people are finding themselves in serious financial trouble as their time in retirement continues to extend. At one time, an individual could expect to spend 10-20 years in retirement. With modern medical and technological advancements, however, increasing numbers of people may end up spending 20-30 years in retirement, which will require more planning and more saving.

The SECURE Act was designed with the goal of helping more Americans save for retirement, including making it easier for small businesses to offer their employees 401(k) plans. But, make no mistake, the SECURE Act has major implications for people with IRAs, employers who sponsor retirement plans, and for people who have an employer-sponsored defined contribution plan (such as a 401(k)).

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Important Information

The information presented is for educational purposes only and is not intended to be a comprehensive analysis of the topics discussed. It should not be interpreted as personalized investment advice or relied upon as such.

Allworth Financial, LP (“Allworth”) makes no representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of the information presented. While efforts are made to ensure the information’s accuracy, it is subject to change without notice. Allworth conducts a reasonable inquiry to determine that information provided by third party sources is reasonable, but cannot guarantee its accuracy or completeness. Opinions expressed are also subject to change without notice and should not be construed as investment advice.

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