Legislative Updates, CARES Act of 2020

CARES Act is the stimulus legislation passed to address the economic damage created by the shutdown of the country to deal with the Coronavirus.  The CARES Act creates a new emergency retirement plan distribution, changes loans and required minimum distributions.

A new emergency distribution called the Coronavirus Related Distribution, (CRD):

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Legislative Updates, SECURE Act of 2020

The SECURE Act was included in a spending bill that was passed at the deadline to keep the government funded.

The Provisions:

Required Minimum Distribution age increases from 70½ to 72 for participants who turn 70½ in 2020.  unfortunately, participants who turned 70½ in 2019 and have already begun taking minimum distributions should continue.

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