Next Move for Secure?
It’s time to start thinking strategically about the next steps.
The passage of the SECURE Act in December 2019 launched the retirement industry into a world of competing priorities. Service providers, including T. Rowe Price, focused on administrative distinctions and participant communications for the more immediate provisions in SECURE—including the change to the beginning date for required minimum distributions (RMDs) and the revision of rules relating to how long a plan or IRA beneficiary could “stretch” a distribution.
Key Points:
- The SECURE Act presents opportunities for plan sponsors and their service providers to review plan design and determine how best to approach optional provisions.
- Some provisions became effective as of January 1, 2020, and may merit immediate plan sponsor attention.
Contact your T. Rowe Price representative to find out how we can take your plan to the next level.