Ep 37: Secure Act 2.0

After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 has been passed. Let’s see what we need to know.

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In this episode:

[2:12] Required Minimum Distributions

[5:39] Reduced penalties for missing RMD

[6:55] More ways to get around the 10% IRA distribution penalty

[10:58] No Required Minimum Distribution on Roth 401k

[11:41] SEP IRA and SIMPLE IRA will now allow Roth portions

[13:03] 529 accounts can transfer to Roth

[16:33] Employer match on 401k can go to Roth

[17:19] For high income earners catch up contributions must go to Roth

[18:56] Increased catch up contributions

[20:39] New inherited account election options for spouses