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Tax Planning

7 Keys of Secure Act’s Annuity Safe Harbor in Retirement Plans

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(Related: Digging Into IRS’ Secure Act RMD Guidance)

The Secure Act contains provisions that will impact nearly every client saving for retirement—along with many who have already begun taking withdrawals from qualified plans and IRAs.

The Secure Act provisions impacting lifetime income options in defined contribution plans have the potential to be some of the most significant. Although it is expected that most 401(k)s will not begin offering annuity lifetime income options immediately, the new rules could have a substantial impact on the way clients plan to secure their retirement income.  Check out the slideshow above to get some key answers to the annuity safe harbor provision.

(Related: Digging Into IRS’ Secure Act RMD Guidance)