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Sales SamplesTEST
Financial Advisor
YOUR COMPANY
45 Prospect Ave
Albany, NY 12206
Phone: 800-243-5334
Fax: 800-720-0780
Email: sales@ltmclientmarketing.com
Website: www.letstalkmoney.com
The enactment of the Setting Every Community Up for Retirement Enhancement (SECURE) Act has created a handful of tax-advantaged features retirees may appreciate. The new law allows retirement plan participants to take penalty-free distributions for a new baby, and 529 plans to pay off college loans. But the major focus of the new law is on helping Americans become more secure in retirement, and the SECURE Act does that in big ways.
You can also contribute to an IRA at any age, as long as you have earned income to offset contributions. Previously, this became off limits once you reached age 70 1/2. As before, you can still contribute to a company 401(k) plan at any age as long as you’re working.
Another feature of the SECURE Act has the potential to affect an even larger group of workers: part-timers. Older workers often take seasonal or part-time work to supplement their retirement income. Effective 2021, if they worked 500 hours in each of three consecutive years, their employers can make them eligible to contribute to the retirement plan.
*The CARES Act suspends the RMD requirement for 2020. Employer sponsored retirement plans may permit through plan amendment.
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