By Ian Berger, JD
From The Slott Report, December 30, 2019:
“2020 promises to be an exciting year in the IRA and savings plan worlds, as the full ramifications of the new SECURE Act begin to take shape. Beyond that, the IRS will likely finalize the new life expectancy tables expected to become effective in 2021. And who knows what other IRS guidance and momentous court decisions will be coming our way?”
2020 was far from an “exciting year” in the retirement plan world (or in any other world for that matter). And it turns out the IRS didn’t get around to issuing regulations answering the many unknown SECURE Act questions. Finally, the new life expectancy tables won’t become effective in 2021 after all. (They were delayed until 2022.)
So much for predictions.
This time, rather than trying to forecast what might happen in the upcoming year, we will simply thank you, our loyal audience, for reading The Slott Report and wish all of you a healthy and happy 2021.