About: SECURE Act

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dbo:abstract	The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, Pub.L. 116–94 (text) (PDF), was signed into law by President Donald Trump on December 20, 2019 as part of the Further Consolidated Appropriations Act, 2020 (2020 United States federal budget). The SECURE Act changed the most popular retirement plans used in the United States and was the first major retirement-related legislation enacted since the 2006 Pension Protection Act. Major elements of the bill include: raising the minimum age for required minimum distributions from 70.5 years of age to 72 years of age; allowing workers to contribute to traditional IRAs after turning 70.5 years of age; allowing individuals to use 529 plan money to repay student loans; eliminating the so-called stretch IRA by requiring non-spouse beneficiaries of inherited IRAs to withdraw and pay taxes on all distributions from inherited accounts within 10 years; and making it easier for 401(k) plan administrators to offer annuities. (en)
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dbp:acronym	SECURE Act (en)
dbp:actsAffected	dbr:Internal_Revenue_Code dbr:Employee_Retirement_Income_Security_Act_of_1974
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dbp:agreedbody	Senate (en)
dbp:agreeddate	2019-12-19 (xsd:date)
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dbp:introducedby	Richard Neal (en)
dbp:introduceddate	2019-03-29 (xsd:date)
dbp:introducedin	House of Representatives (en)
dbp:name	Setting Every Community Up for Retirement Enhancement Act of 2019 (en)
dbp:nickname	SECURE Act (en)
dbp:numberOfCoSponsors	304 (xsd:integer)
dbp:passedbody	House of Representatives (en)
dbp:passeddate	2019-05-23 (xsd:date) 2019-12-17 (xsd:date)
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dbp:signeddate	2019-12-20 (xsd:date)
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rdfs:comment	The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, Pub.L. 116–94 (text) (PDF), was signed into law by President Donald Trump on December 20, 2019 as part of the Further Consolidated Appropriations Act, 2020 (2020 United States federal budget). (en)
rdfs:label	SECURE Act (en)
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