Join us for important updates resulting from the Secure Act 2.0. changes to the 10-year rule, who will be impacted by the rules, and the potentially substantial tax implications for those beneficiaries.
SECURE ACT 2.0: What You Need to Know!
Tuesday, February 14, 2023
3:30 p.m. ET
Click here to register.
Brandon Buckingham, J.D.*, LL.M.
Vice President, Advanced Planning
Prudential Financial, Inc.
John McElhiney
Regional Vice President, Retirement Strategies
Prudential Distributors – Annuities
IRS REG.105954-20 The SECURE ACT went into effect January 1, 2020, fundamentally changing the tax and distribution rules for beneficiaries of IRAs and other qualified retirement accounts as we knew them. The IRS recently caught everyone by surprise and flipped the understanding of the 10-year rule on its head when it applied the “At Least as Rapidly” doctrine to certain beneficiaries of qualified retirement accounts which will create new and potentially expensive tax pitfalls for some taxpayers. This presentation will discuss the changes to the 10-year rule, who will be impacted by the rules, and the potentially substantial tax implications for those beneficiaries. Having an understanding of the new rules will be critical in preventing potentially expensive mistakes in 2023 and beyond.
SECURE Act 2.0: On December 29, 2022, SECURE Act 2.0 was signed into law, building on The SECURE Act of 2019. The legislation should help strengthen the retirement system and make it easier to save and invest for retirement. While 2.0 brings some welcome changes, as with any legislation, 2.0 adds some additional complexities that will need to be expertly navigated to take advantage of many of the new rules, as well as avoid potential tax missteps.
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