The long-awaited SECURE Act was signed into law on Dec. 20, 2019. Most of the provisions affecting IRAs are in effect as of Jan. 1, 2020 including huge changes to Beneficiary Payout Options. Everyone who has any contact with IRAs must know this important information ASAP to make sure old Beneficiary Options are not used for IRA owners who died beginning in 2020.
- What are the old rules for IRA nonspouse beneficiary payouts?
- What are the new rules for IRA nonspouse beneficiaries?
- What are the payout rules for successor beneficiaries?
- What "designated beneficiaries" are exempt from the new rules?
- How will the new rules affect the account dormancy rules and escheatment to the State?
- What are the estate planning effects of the new beneficiary payout rules imposed by the Secure Act of 2020?
Who Should Attend?
Everyone even remotely involved in discussing, selling, administrating and processing IRAs should attend. This includes customer service reps, new account reps, operations, call center reps, trust officers, investment advisors and anyone else who doesn't want to give wrong information to their clients
Patrice M. Konarik is president of Sunwest Training Corp. founded over 25 years ago and is located in the Texas Hill Country near San Antonio, Texas. With over 35 years in the financial industry, Patrice has focused her expertise on the retirement account area and is currently providing live training and Webinars on IRAs and Health Savings Accounts on a nationwide basis. She has a BS in Management Science from New York’s Binghamton University. Many state banking associations and other organizations use her as their main source for training on these complicated topics.
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