U.S. News & World Report – March 13, 2020

This article discusses the SECURE ACT. In it, David Schneider explains that the SECURE ACT “is considered the biggest set of changes to retirement legislation in more than 10 years.”

He cautions that new rules requiring death distributions to be taken over 10 years or less, can have huge tax consequences for people who inherit retirement accounts, stating “When most people inherit money, they are probably in their peak earning years – in their 40s or 50s.” He adds “If they inherited an IRA in peak earning years and are forced to take large distributions when their tax bracket is already high, they can be bumped into an even higher bracket.”

Read More: U.S. News & World Report – March 13, 2020