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    SECURE Act Basics: What Everyone Should Know

    by Ephie Coumanakos, Managing Partner, Concord Financial Group Mar 24, 2020 3 minutes

    The SECURE Act, which was officially enacted on Jan. 1, 2020, is now the largest retirement reform to impact the economy since the Pension Protection Act of 2006.

    The official title of the bill is "Setting Every Community Up for Retirement Enhancement," which deemed the moniker SECURE. The bill itself is the product of a bipartisan effort to make retirement savings more accessible for less-advantaged people.

    cast opposed the act, which further highlights the concerning state of retirement savings in the U.S. This bill was passed at an interesting time, considering the current retirement situation, in which pension systems are collapsing and Social Security is bordering on insolvency.

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