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CNBC: Big Changes Coming In How You Save For Retirement Thumbnail

CNBC: Big Changes Coming In How You Save For Retirement

In December 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law, bringing the biggest legislative changes to America’s retirement system in 13 years. Changes included requiring businesses to let long-term, part-time workers become eligible for retirement benefits, and making it easier for small businesses to band together to offer retirement plans.
One of the changes involved inherited retirement accounts. Instead of heirs being able to take required withdrawals over the course of their life, money needs to be withdrawn within 10 years of the original account owner’s death. “That’s obviously a negative for inherited traditional IRAs and for Roth IRAs that used to stretch over the beneficiary’s lifetime,” said certified financial planner Mike Hennessy, founder and CEO of Harbor Crest Wealth Advisors in Fort Lauderdale, Florida. 
Learn more about the SECURE Act in this December 2019 CNBC article, "Big changes coming in how you save for retirement."
CNBC is the recognized world leader in business news and provides real-time financial market coverage and business content consumed by more than 320 million people per month across all platforms. The network’s 14 live hours a day of business programming in North America is produced at CNBC’s global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC’s highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC also offers content through its vast portfolio of digital products such asCNBC.com, which provides real-time financial market news and information to CNBC’s investor audience; CNBC Make It, a digital destination focused on making you smarter about how you earn, save and spend your money; and CNBC PRO, a premium service that provides in-depth access to Wall Street.