SECURE Act

Setting Every Community Up for Retirement Enhancement Act of 2019
Long title	Making further consolidated appropriations for the fiscal year ending September 30, 2020, and for other purposes
Acronyms (colloquial)	SECURE Act
Nicknames	SECURE Act
Announced in	the 116th United States Congress
Number of co-sponsors	304
Codification
Acts affected	Internal Revenue Code of 1986; Employee Retirement Income Security Act of 1974
Agencies affected	Internal Revenue Service; United States Department of Labor; United States Department of the Treasury
Legislative history
	Introduced in the House of Representatives as H.R. 1994 by Richard Neal (D–MA) on March 29, 2019; Committee consideration by House Committee on Ways and Means; passed committee on April 2, 2019, as "SECURE Act",; Passed the House of Representatives on May 23, 2019 (417–3); Passed the House of Representatives on December 17, 2019 (297–120) with amendment; Senate agreed to House of Representatives amendment on December 19, 2019 (71–23); Signed into law by President Donald Trump on December 20, 2019;

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, Pub. L. 116–94 (text) (PDF), was signed into law by President Donald Trump on December 20, 2019 as part of the Further Consolidated Appropriations Act, 2020 (2020 United States federal budget).

The SECURE Act changed the most popular retirement plans used in the United States and was the first major retirement-related legislation enacted since the 2006 Pension Protection Act. Major elements of the bill include: raising the minimum age for required minimum distributions from 70.5 years of age to 72 years of age; allowing workers to contribute to traditional IRAs after turning 70.5 years of age; allowing individuals to use 529 plan money to repay student loans; eliminating the so-called stretch IRA by requiring non-spouse beneficiaries of inherited IRAs to withdraw and pay taxes on all distributions from inherited accounts within 10 years; and making it easier for 401(k) plan administrators to offer annuities. The act was followed by the SECURE 2.0 Act.