The SECURE Act of 2019 and the SECURE Act 2.0: The Changing Landscape of Retirement Plans

Course Description: The SECURE Act of 2019 changed the most popular retirement plans used in the United States and was the first major retirement-related legislation since 2006. The SECURE Act 2.0 of 2022 builds and expands on the SECURE Act of 2019 to improve retirement savings opportunities. Notices continue to occur in an effort to clarify legislation.

Learning Objectives:

• Interpret the changes in enrollments to 401(k)
• Identify the contribution limits to 401(k) and 403(b) plans based upon age and income
• Identify the beginning age for required minimum distributions.
• Examine the distribution requirements for inherited retirement plans
  • Spouse
  • Eligible designated beneficiary
  • Individual other than an eligible designated beneficiary
  • Non-individual beneficiary
• Use of trusts in wealth transfer plan (overview)
• Recognize Estate Tax Limits (Federal and Illinois) brief tax planning