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PSCA Executive Reports

June 20, 2019


On May 23, 2019, the House of Representatives approved H.R.1994, Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act), 417-3. The Senate is considering the bill, however, as of this date, the Senate has not taken action. The SECURE Act changes various provisions, including but not limited to:

  • Repeal the maximum age for contributions to traditional IRAs (currently 70½, 
  • Increase the age to commence retirement account distributions to 72 (currently 70½), 
  • Facilitate the creation of multiple employer plans, 
  • Allow certain similar plans to file a single Form 5500, 
  • Mandate retirement savings plan eligibility for certain part-time workers, 
  • Allow penalty-tax-free withdrawals of up to $5,000 to reimburse qualified expenses within one year of birth or adoption. 

An extensive review of the SECURE Act will be included in the Executive Report should the Senate approve the proposed legislation to be signed into law by the President.


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