Congress recently passed the Setting Every Community Up for Retirement Enhancement Act, better known as the Secure Act, which if approved would be the biggest changes to retirement plans in a decade. If passed, the bill would do things like raise the age at which participants need to start taking required minimum withdrawals, allow up to $5,000 to be taken of 401(k) plans without penalty for child birth or adoption, and would make other changes. We’ll get more on the Secure Act from Jay Spector, a partner and wealth advisor for Barton Spector Wealth Strategies, who will also give financial tips for the new year.
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SPOTLIGHT
