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5:30pm-7pm SECURE Act Seminar at the Wamsutta Club, New Bedford

March 12, 2020 @ 5:30 pm - 7:00 pm

The SECURE Act, effective January 1, 2020, is one of the most impactful law changes to retirement accounts in a generation.

There is a lot to unpack here, but we want to assure you that while the SECURE Act changes retirement planning, specifically with how retirement accounts are taxed and affects required minimum distributions, it is not all bad. And there are still ways to protect everything you own and love.

The biggest talking point is that the SECURE Act has removed the “stretch” provision for beneficiaries of IRAs and things like 401(k)s. Under the old law, the beneficiary could stretch out the RMDs over his or her own life—which could be a very long time if the beneficiary is considerably younger. Under the new bill, your heirs might have to do a full distribution within 10 years of the owner’s (your) death.

This change does not apply to all beneficiaries, specifically, surviving spouses, minors, disabled individuals, the chronically ill, and beneficiaries not more than 10 years younger than the owner. But for those who don’t fall into any of those categories, it does create significant tax consequences. There are also concerns over the impact to trusts, especially those that have been named the beneficiary of an IRA.

Join the Attorneys of Surprenant & Beneski, P.C. and guest Financial Planner, Anthony Salerno of Ameriprise, for one of the following events where they will share how this change can be addressed in your retirement & estate plan.

If attending the in-person event, we encourage you to bring a current statement or each of your retirement plans, current proof of beneficiaries on those plans and (if you are not an existing client of our firm) a copy of your trust.

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March 12, 2020
5:30 pm - 7:00 pm
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Wamsutta Club
427 County Street
New Bedford, MA 02740 United States
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