Setting Every Community Up for Retirement Enhancement Act

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There a changes coming to retirement planning with the signing the SECURE Act. Here are some of the changes:

-Required Minimum Distribution (RMD) changes to 401(k) plans and traditional IRA’s pushed the age from 70-1/2 to 72 years of age.

-Removes the IRA age cap that prohibits investment at 70-1/2 with no age limit.

-Eliminates non spousal stretch of benefits from inherited accounts over their own lifetimes.

-Allows 401(k) for part time employees

-Annuity information and options expanded so you not only know how much you have but how long it is calculated to last.

-Automatic enrollment in 401(k) plans will be enhanced for companies so more employees can enroll in an investment retirement plan.

-Three Provision for small businesses (1) increases their tax credits up to $5,000; (2) $500 tax credits for new start up businesses; (3) Allows business to join together to provide retirement plans for their employees.

-Prohibits using 401(k)’s to access loans for credit cards/debt cards will be prohibited.

-Student loan paybacks from 529 funds of up to $10,000 per child.

If you want more information go on to the internet:

More tips tomorrow,

R. LaMont W.


Robert L Woods

Robert L Woods

I am a personal finance and investment educator who’s passion is to teach financial literacy to my community to give them financial empowerment so they can control their own destiny.

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About Me

Robert L. Woods is the retired partner of the Institute For Fiduciary Education ( that provided investment seminars for public and private pension funds, endowments and institutional fund managers. He spent 28 years working for the State of California, as a budget and financial analyst which includes 16 years as an Investment Officer for the California State Teachers’ Retirement System (CalSTRS). At CalSTRS, he established it as one of the nation’s first institutional home loan programs with a down payment assistance component. He also spent 13 years on the Board of Trustees for the Sacramento County Employees Retirement System (SCERS). He was a Trustee with the University of California, Davis, Cal Aggie Alumni Association and a member of the Chancellor’s Council on Community & Diversity. He is a Life Member: Phi Beta Sigma Fraternity, Inc., Theta Gamma Sigma Chapter, Sacramento, CA.

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