The Secure Act and Your Retirement

This Class Will be Presented Virtually Only! Please Attend Online.

Tuesday, March 17, 2020

To Watch a Complete Recording of This Class–Click Here

This Class Will Be Presented Virtually Only.  Please Attend Online.    EmpowerU Studio will not be open for people to attend this class in person.  Please do not come to EmpowerU Studio–(very sorry!).

Click This Link to Login at 6:50 PM on March 17

Dan’s Handout–How to Train Your Brain To Go Positive by Loretta Breuning

The “Setting Every Community Up for Retirement Enhancement Act” of 2019, better known as the SECURE Act, which originally passed the House in July, was signed into law on December 20 by President Donald Trump.

The SECURE Act will make it easier for small business owners to set up “safe harbor” retirement plans that are less expensive and easier to administer.  Many part-time workers will be eligible to participate in an employer retirement plan.  The Act pushes back the age at which retirement plan participants need to take required minimum distributions (RMDs), from 70½ to 72, and allows traditional IRA owners to keep making contributions indefinitely.  The Act mandates that most non-spouses inheriting IRAs take distributions that end up emptying the account in 10 years, and The Act allows 401(k) plans to offer annuities.

The landscape for building wealth in retirement plans and IRAs has changed dramatically after the SECURE Act passed.  Individuals need to balance their personal needs with what they desire to pass on to children and future generations in an asset protected manner.

An important change to many is the removal of a provision known as the Stretch IRA, which has allowed non-spouses (your children) inheriting retirement accounts to stretch out disbursements over their lifetimes. The new rules will require a full payout from the inherited IRA within 10 years of the death of the original account holder, raising an estimated $15.7 billion in additional tax revenue. (This will apply only to heirs of account holders who die starting in 2020.)

It doesn’t matter how much money you have, what matters is how you can pass it on to your beneficiaries.  Suggestions will be made as to amendments to Revocable Trusts and the efficient, asset protected building of ROTH IRA assets.

Robert W. Buechner is President of the law firm of Buechner Haffer Meyers & Koenig Co., L.P.A. in Cincinnati, Ohio.  He is a graduate of Princeton University and the University of Michigan Law School and has earned the prestigious CLU and ChFC designations from the American College.

He has been designated as a Super Lawyer since 2009 and is certified as a specialist in Estate Planning, Trust and Probate Law by the Ohio State Bar Association.  Nationally recognized as an authority on tax and financial matters, Mr. Buechner has authored six books, published 18 articles and has spoken at over 1,000 tax, financial, and motivational forums. 

In addition, he has been an entrepreneur starting “Team Coaching for Winning at Life” and has developed a seminar program with Tara L. Robinson titled “Connecting Passion and Purpose.” Also, he has been a co-chair of “Champions for Urban Youth” which connects caring adults with inner-city children.

He has served as Chair or Chairman of the Board of Trustees of the following organizations: Southwestern Ohio Tax Institute, Tax Section of the Cincinnati Bar Association, church council of Hyde Park Community United Methodist Church, the City Club, Greater Cincinnati Estate Planning Council, the Cincinnatus Association, the Princeton Club of Southwestern, Ohio and Cincinnati Country Day School. (“CCDS”).  He hosted his own T.V. show, “Greater Cincinnati Business Review” for 11 years.  He has also served on the Board of Directors of two publicly traded corporations and is a former trustee of SORTA.

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