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Naming the Beneficiary of Your Retirement Plan Under the Secure Act

If you own a retirement plan (IRA, 401k, 457b, etc.) and you are married, you will most likely name your spouse as the primary beneficiary and your children as the contingent beneficiaries. If you die before your spouse, she could opt to make it an inherited IRA, or she could do a spousal rollover and make it her own IRA. She would need to name beneficiaries. If she has children, she will…

Congress May be Changing Your Retirement Plan

Congress may actually be passing legislation. In May 2019, the House of Representatives passed, by a 417-3 margin, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. The Senate has not yet voted on a similar bill, the Retirement Enhancement and Savings Act (RESA). If the House and Senate reconcile and pass the bill and the President signs it, I'm proposing a new name (WTFGSD) When They Finally Got…

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