SECURE ACT 2.0: Information for Individuals

The SECURE Act 2.0, or Setting Every Community Up for Retirement Enhancement Act, is a comprehensive piece of legislation benefiting both Individuals and Employers. This legislation is set to be implemented over the next several years and seeks to foster a stronger and more secure retirement landscape for Individuals while offering financial support to Employers to offer retirement plan benefits while also extending the time before investors become subject to required minimum distributions from their retirement portfolios.

For Individuals, it extends the age for required minimum distributions (RMDs), making it easier to plan for retirement by allowing more time for savings to grow. It also provides opportunities for penalty-free withdrawals for qualified life events like the birth or adoption of a child. Additionally, it encourages lifetime income options, aiming to secure a steady stream of funds during retirement.

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Information for Individuals

The SECURE Act 2.0 is a U.S. law aimed at improving retirement savings options for Individuals. It brings about changes like increasing the age for required minimum distributions (RMDs) from retirement accounts to 72, allowing contributions to traditional IRAs beyond age 70 ½, and promoting access to employer-sponsored retirement plans for part-time workers. 

The Act also encourages the inclusion of lifetime income options within retirement plans and offers penalty-free withdrawals from retirement accounts for qualified expenses related to the birth or adoption of a child. Additionally, it provides more education-related benefits through expanded usage of 529 plans, ensuring that Individuals have greater flexibility and opportunities to enhance their financial security during retirement.

This download covers the following topics:

  • Required Minimum Distributions (RMD)
  • 529 Rollover to Roth
  • Withdrawals for Emergency Expenses
  • Preservation of Income
  • And more

If you have questions about the SECURE ACT for Individuals or would like to discuss your personal retirement plan, request a free personal consultation by clicking the button below. 

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Take the first step toward a more secure financial future. Request your free consultation today.

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Financial Network Limited (FNL), a Prime Capital Investment Advisors Company

Financial Network Limited was founded to provide personalized investment strategies for individuals and families, and distinctive employee benefit programs for employers. Nearly 30 years later, our mission and commitment remain the same to provide comprehensive and innovative client solutions with the highest levels of professionalism and integrity.

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1993

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PRIME CAPITAL INVESTMENT ADVISORS
CONNECTICUT PARTNER FIRM SINCE

2021

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Milford, Connecticut 06460

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Advisory products and services offered by Investment Adviser Representatives through Prime Capital Investment Advisors, LLC (“PCIA”), a federally registered investment adviser. PCIA: 6201 College Blvd., Suite#150, Overland Park, KS 66211. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”). Securities offered by Registered Representatives through Private Client Services, Member FINRA/SIPC. PCIA and Private Client Services are separate entities and are not affiliated.

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