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This is the sixth in a series of articles describing key provisions of the SECURE Act, this one with a focus on provisions unique to Individual Retirement Accounts. This legislation includes almost 30 changes that are intended to promote the adoption of employer-sponsored retirement plans, facilitate lifetime income options, and lessen administrative burdens. Employers must modify certain aspects of plan administration (and potentially financial planning decisions) to align with the SECURE Act's more immediate changes.

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1. No age limit on contributions to a traditional IRA

Prior to the SECURE Act, individuals could not make contributions to a traditional IRA after attaining age 70½, even if they still had eligible income. This prohibition applied to both deductible and non-deductible IRA contributions.

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