Updated Rules On Retirement

 

Did you hear the news? President Trump signed an executive order today that could affect your retirement in the future.

The order looks at two different areas:

  1. Required Minimum Distributions (RMD’s)
  2. Make Work-Based Retirement Programs More Affordable For Small-Businesses

With the first area, the goal is to basically allow retirees the option to put away money in their accounts for a longer time, than the current law of age 70.5.

The second area is a push by the Trump White House to increase the number of businesses that have retirement programs, with one measure to essentially allow small businesses to join collectively and offer plans.

A statistic put forth by the Trump White House shows that only 53% of businesses with fewer than 100 employees even offer workplace retirement plans, versus 90% of larger-sized businesses with more than 100 employees offering a retirement plan for their employees.

We hope this tidbit of information helps bring you up to speed with the latest on retirement in America. Here at the Harrin Group, we are passionate about retirement and hope to assist you in anyway we can, to reach your retirement goals. Whether that entails a guaranteed lifetime income from an annuity or indexed universal life insurance, we are here for you! 

Source: Fox Business