The start of 2023 brought us another round of retirement changes with SECURE Act 2.0 officially taking effect and there are a number of important provisions that retirees need to be aware of. 

In this episode, Laura Stover, RFC® and Michael Wallin, CFP®  will take you through the changes they’ve identified as being most impactful for retirees and make sure you have a good understanding of what this means moving forward. SECURE Act 2.0 creates additional planning opportunities that you might want and they’ll explain why. 

If you haven’t had the chance to look through this new legislation, make sure to listen in to find out more about what’s changing for required minimum distributions, qualified charitable distributions, catch-up contributions, and more. We can’t cover everything in this episode, but this should give you a great starting point for the next conversation with your advisor.

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Timestamps (show notes):

3:12 – The required minimum distribution age is moving back again.  

7:54 – Catch-up provisions and inflation adjustments

11:04 – An extended RMD credit for qualified accounts

15:45 – Changes to qualified charitable distributions

21:22 – A new exception to the penalty for tax on qualified plan distribution  

25:17 – Qualifying for a hardship distribution in retirement accounts