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Understanding the Provisions of the SECURE Act

Before 2019 wound down, the Setting Every Community Up For Retirement Enhancement (SECURE) Act was signed into law by President Donald Trump on December 20, 2019. The SECURE Act is a bipartisan package of provisions intended to encourage retirement savings through additional retirement planning options.

The SECURE Act provides a few updates including modifying required minimum distribution (RMD) rules for retirement plans, expanding retirement plan access, and increasing lifetime income options in retirement plans (i.e., annuities).

  • The RMD withdrawal start date has changed from age 70½ to age 72 for a traditional retirement plan and/or an Individual Retirement Account (IRA)
  • Business owners are encouraged to offer retirement plans to their employees with increased tax credits for small businesses, expansion of multiple-employer plans, and expansion of plan eligibility to long-term, part-time employees
  • Legislation simplifies compliance and fiduciary rules by offering a safe harbor provision for annuities

Prudential has developed a fact sheet on the SECURE Act which breaks down the key provisions for businesses and consumers. You can request this financial professional approved document by contacting our team below.

To help our members and agents, AIP Marketing Alliance has access to multiple, top-rated insurance carriers with annuity products designed to fit within the SECURE Act’s provisions for lifetime guaranteed income. AIPMA also used online contracting to make getting appointed efficient for your agents.

If you would like to learn more, please contact AIPMA’s Business Development team at (800) 783-5206 press #2 or email marketing@aipma.com.

Contact Us

800.783.5206

2041 E. Square Lake Road, Suite 100, Troy, Michigan 48085-3897

About Us

For more than 35 years, AIP Marketing Alliance (AIPMA) serves as a premier life insurance and annuity distribution partner to provide full-service support to independent wholesalers, brokerages and agents from our Troy, Michigan office.