Blog

Category: Congress

Bipartisan Support in Congress to Make Retirement More Secure

Posted By Lineweaver Financial Group
July 02, 2019 Category: Congress, Retirement, IRA

by LFG Tax Director, Mark Sipos On May 23rd, 2019, the U.S. House of Representatives voted overwhelmingly in favor of the SECURE Act, which stands for "Setting Every Community Up for Retirement Enhancement." Most of the provisions in the act are designed to make it easier for more people to save for retirement, and for more employers to offer retirement plans for their employees. One notable provision in the bill would essentially end what's known as the "stretch IRA." Under the current law, when a beneficiary inherits an IRA, the beneficiary can choose to have the IRA balance distributed in two ways: either in required minimum distributions based on his or her life expectancy, or during the five years after the original account holder passes. Making maximum use of the IRA's taxdeferred compounding like this is known as a "stretch IRA." Under SECURE, in most instances an inherited IRA would have to be fully distributed within 10 years of the original owner's death, although there are some exceptions. Some additional areas the bill covers are as follows: • The repeal of the maximum age for traditional IRA contributions, which is currently 70½ • An increase of the required minimum distribution age for retirement accounts to 72 (up from 70½) • Allowing long-term part-time workers to participate in 401(k) plans • Increase of the auto-enrollment safe harbor cap to 15% from 10% • Allowing more annuities

Categories
General (40)
Newsletter (33)
Economic Commentary (18)
Retirement (15)
Retirement Planning (14)
Letter From The President (14)
Finance (12)
Educational (12)
Tax (11)
Financial Planning (11)
Healthwatch (10)
Lineweaver (10)
Commentary (10)
Market Commentary (8)
Taxes (8)
Economy (7)
Q3 (7)
Tax Planning (7)
Market (6)
Education Programs (6)
Portfolio (5)
IRA (4)
LFG (4)
Estate Planning (4)
Social Security (4)
Bonds (4)
Health (4)
Insurance (3)
Market Review (3)
Diversification (3)
2017 (3)
Interest Rates (3)
Tax Law (3)
Trump (3)
(3)
Rising Interest Rates (2)
Annuity (2)
Strategies (2)
Volatile Market (2)
Fraud (2)
Annuities (2)
Stocks (2)
Charity (2)
HealthWatch (2)
Financial (2)
Coordination (2)
Tax Cuts And Jobs Act (2)
Investing (2)
Tax Scams (2)
Real Estate (2)
2019 (2)
Client Spotlight (2)
Economic Outlook (2)
Market Update (2)
Investments (2)
Financial Strategies (2)
High Income (2)
Social Security Benefits (2)
Election (2)
Brexit Update (2)
2016 (2)
Q2 Newsletter (2)
Financial Goals (1)
Chad Roope (1)
Legal (1)
Wills (1)
Eye Strain (1)
Roth Conversion (1)
Roth Ira (1)
Screens (1)
Vacation From Investments (1)
Traditional Ira (1)
Congress (1)
Marital Trust (1)
Sell In May And Go Away (1)
Bloodline Trust (1)
2018 (1)
David Baker (1)
Q2 2019 (1)
Tips (1)
Jim Lineweaver (1)
Stock (1)
New Years Resolutions (1)
Market Outlook (1)
Vacation Home (1)
Healthy (1)
Cooking (1)
Exercising (1)
Keeping Your Mind Sharp (1)
Q1 (1)
James Lineweaver (1)
Pro Football Hall Of Fame (1)
Quarterly Newsletter (1)
Financial Quarterback (1)
Anne Graffice (1)
Sring Cleaning Your Finances (1)
Statements (1)
End Of Year Taxes (1)
Buy (1)
Markets Don\'t Pick Sides (1)
Steps (1)
Probiotics (1)
2020 (1)
2020Q3 (1)
Medicare (1)
Medicare Supplements (1)
Your Retirement Playbook (1)
2020Q4 (1)
Sleep (1)
Stimulus (1)
Healthy Living (1)
2021 Outlook (1)
Eductional (1)
News (1)
Awards (1)
Crain\'s (1)
Investment. Advisers (1)
Blog (1)
Nutrition (1)
CARES Act (1)
Sell (1)
Longterm Care (1)
Dementia (1)
Review (1)
Credit Unions (1)
Pse (1)
Big Banks (1)
Savings (1)
Checking (1)
Banking (1)
Healthcare (1)
CARES (1)
Elder Law (1)
POA (1)
Power Of Attorney (1)
Charitable (1)
Donations (1)
Inheritance (1)
Tax Strategies (1)
Black Swan (1)
Trusts (1)
Market Pullback (1)
In Laws (1)
Roth (1)
Retiring (1)
Self Employed (1)
Business Owners (1)
Annuity Alternatives (1)
Life Insurance (1)
Dividend (1)
Bonds Ladder (1)
Policy (1)
Donor Advised Fund (1)
Retire Early (1)
Private Foundation Charitable Lead Trust (1)
Charitable Remainder Trust (1)
Growing Your Wealth (1)
REITs (1)
Risk Management (1)
Protection (1)
North Korea (1)
Conflict (1)
Legacy (1)
Retire (1)
Mutual Funds (1)
Gifting (1)
Retirement Tips (1)
Financial Advice (1)
Financial Advisor (1)
Social Security Planning (1)
Charitable Contributions (1)
Women And Money (1)
Service Day (1)
Harvest For Hunger (1)
Candidates (1)
Q1 2017 Newsletter (1)
Politics (1)
Fall 2016 (1)
Financial Health (1)
Holiday Planning (1)
Stockpile (1)
Holiday Gifts (1)
1st Quarter (1)
2016 Market (1)
Winter 2017 (1)
Lineweaver Wealth Advisors (1)
Expense (1)
Q3 Newsletter (1)
Travel Tips (1)
NAFTA (1)
Trading (1)
New Tax Law (1)
529 Plans (1)
Charitable Giving (1)
Q2 (1)
New Website (1)
Bruce Motko (1)
Travel (1)
Distribution (1)
Markets (1)
Drink Water (1)
Market Volatility (1)
Cryptocurrency (1)
Investment (1)
Bitcoin (1)
Advice (1)
Summer (1)
Tariffs (1)
RMD (1)
Costs (1)
Kids (1)
401(k) (1)
Equifax (1)
Mark Sipos (1)
2017 Q4 (1)
Identity Theft (1)
Third Quarter (1)
Tax Cuts And Job Act (1)
Introducing (1)
Grand Kids (1)
Reallocation (1)
Tax Cuts (1)
Jobs (1)
Lose Weight (1)
Eat More (1)
Market Review 2017 (1)
Letter From The President New Years Resolutions (1)
Transfer Real Estate (1)
Defer Tax (1)
Top Financial Strategies Of The Wealthy (1)
Dividends (1)
+ Show More

Terms and Conditions | Privacy Policy | Disclosures

Lineweaver Financial Group ©
Powered by Virteom Logo Virteom