
Passed in December 2019, the SECURE Act changed several retirement plan provisions for both individuals and businesses.The elimination of the “stretch” provisions for most non-spouse beneficiaries of IRAs and defined contribution plans (like a 401(k)) was perhaps the most significant and publicized change that was brought about by the SECURE Act.The Act provides for a later starting date for required minimum distributions (RMDs) from retirement accounts, up to 72 from 70½.