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Many advisors have heard that the SECURE Act is the most important retirement legislation in over 10 years. Hard to argue with that — besides having a long name* that sounds like it was created after the acronym was, SECURE is packed with details, from the simple to potentially industry-changing ones.
To add to the confusion, Congress passed it in a last-minute deal near the end of December 2019. So quite a few people were taken by surprise when some of SECURE's provisions went into effect immediately on January 1, 2020.
Clients are worried and confused, unsure what parts apply to them now and what can be dealt with later. The impact of one wrong step could be huge.
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