Alert! IRA Law Changes with SECURE Act



On Dec. 20, the President signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), it has many changes to retirement plans and this one-hour update will cover the Individual Retirement Changes! The age of 70 ½ has now been changed to 72 for distributions for Traditional IRAs. The age 70 ½ is repealed for contributions. The inherited IRA has been changed from the “stretch” of a beneficiary’s life expectancy to 10 years. This IRA class is an A to Z on IRAs. It will work for IRA participants of all levels. Each registrant will receive a copy of the 575 plus page IRA Handbook in hard copy and on cd.

Program Topics

– New Legislation passed that will increase 70 1/2 age to 72, allow more into the accounts and other exciting changes!
– New life expectancy tables proposed
– Product update and review of changes
– Premature distributions
– Exceptions to the 10% penalty
– Annuity Distributions
– Tax levies on IRAs
– Transfers and rollovers after 72
– 72 calculations & issues
– Waivers
– Charitable contributions—now 72
– Death distributions—New 10 year rule for nonspouse beneficiaries
– Primary vs. contingent beneficiaries
– Treating the IRA as spouse’s own
– Inheriting the IRA
– Successor beneficiaries, disclaimers, calculations
– Special topics
– Recharacterizations
– Conversions and reconversions
– Revocations
– Excesses
– Compliance, auditing and reporting
– Other Changes from the SECURE ACT

Who should attend?
This program is designed for IRA administrators, trust officers, customer service representatives, personal bankers, branch managers and other personnel who need comprehensive review of all the new IRA rules.

Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has over 30 years of combined teaching and banking experience.