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SECURE Act, CARES Act and 2022 Life Expectancy Updates

SECURE Act and CARES Act Changes to Distribution Rules

The SECURE Act of 2019 was signed into law on December 20th, 2019. The CARES Act of 2020 was signed into law on March 27, 2020. New Life Expectancy tables for RMDs went into effect in 2022. Are your calculators ready? The best, most up to date, and easiest to use financial calculators. Anywhere.

SECURE Act of 2019, CARES Act of 2020 and 2022 Life Expectancy Updated Calculators

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New Calculator!RMD & Stretch IRA CalculatorUse this calculator to help determine how you can stretch out your retirement plan distributions for as long as possible.
New Calculator!Required Minimum Distribution (RMD)Use this calculator to determine your Required Minimum Distributions (RMD) as an account owner of a retirement account. This financial calculator will also look at potential future year's distribution requirements.
New Calculator!Required Minimum Distribution (RMD) - Current YearUse this calculator to determine your Required Minimum Distributions (RMD) as an account owner of a retirement account for the current year.
New Calculator!Required Minimum Distribution (RMD) - Future ProjectionUse this calculator to create a projection of your future Required Minimum Distributions (RMD) as an owner of a qualified retirement account.
New Calculator!Required Minimum Distribution (RMD) - with Stretch ProjectionUse this calculator to create a stretch projection for Required Minimum Distributions (RMD) of a qualified retirement account.
New Calculator!Beneficiary Required Minimum Distributions (RMD)Use this calculator to determine your Required Minimum Distributions (RMD) as a beneficiary of a retirement account.
New Calculator!Beneficiary Required Minimum Distributions (RMD) - Designated Eligible BeneficiaryUse this calculator to create a projection of your future Required Minimum Distributions (RMD) as a "Designated Eligible Beneficiary" of a qualified retirement account.
New Calculator!Beneficiary Required Minimum Distributions (RMD) - Spouse Inherited IRAUse this calculator to create a future projection and Required Minimum Distributions (RMD) as a spouse beneficiary electing not to treat the inherited retirement account as his/her own.
New Calculator!457 Plan Roth Conversion with Distributions CalculatorUse this calculator to help determine if converting your 457 plan account to a 457 Roth plan account is a good move for you.
New Calculator!Roth 401(k) Conversion CalculatorThis calculator will show the advantage, if any, of converting your pre-tax 401(k) to a Roth 401(k).
New Calculator!Roth IRA Conversion with Distributions CalculatorUse this calculator to help determine how you can stretch out your retirement plan distributions for as long as possible.
  1. New Life Expectancy tables for 2022:

    The calculators use the existing Annuity 2003 Mortality Tables through 2021. For 2022 and later, all calculators have been updated to automatically use the new Life Expectancy and Distribution tables. The new tables, which were finalized by the IRS in November of 2020, replace the older annuity factors and life expectancies as of January 1, 2022.

  2. SECURE Act of 2019 new age for starting Required Minimum Distributions (RMD):

    The Act changed the age that RMDs must begin and for most account owners. For account owners born after 6/30/1949 RMDs are required now to start at age 72. Account owners born on 6/30/1949 or earlier continue to use 70 1/2 as their start age. This also means that if RMDs have already started for an account, you must continue the distributions even if you are not 72.

    Generally, for account owners and their spouses, the SECURE Act did not change how the RMD is calculated; it only changed the age that they start.

  3. SECURE Act of 2019 most Beneficiaries can't stretch distributions beyond 10 years

    Allowing the beneficiary of a retirement account to stretch out distributions over their life time has been significantly impacted by the SECURE Act of 2019. Previously, all beneficiaries had this option. With the new law only designated eligible beneficiaries are allowed this type of minimum distribution. If you are not a designated eligible beneficiary, you have until 12/31 of the year that contains the 10th anniversary of the original account owner's death to withdraw all funds from the account. There are no minimum withdrawals during this 10 year period, but all funds must be withdrawn before the deadline to avoid significant penalties. Designated eligible beneficiaries are a surviving spouse, a child of the account owner (but generally only until they are 18, at that point the 10 year rule begins) or a chronically ill individual. For more information please see Modification of Required Distribution Rules for Designated Beneficiaries.

  4. CARES Act of 2020 provided a temporary waiver of required minimum distributions (RMD)

    The RMD waiver is for retirement plans and accounts for 2020. This includes direct contribution plans such as 401k, 403b, 457b plans and IRAs. RMDs are also waived for IRA owners who turned 70 1/2 in 2019 and were required to take an RMD by April 1, 2020 and have not yet done so. For more information please see Waiver of Required Minimum Distribution for 2020.

  5. CARES Act of 2020 extends distribution period for accounts inherited by non-designated beneficiaries

    Where the original account owner died prior to 2020 and prior to their required RMD begin date, the five year distribution period has been extended to six. For more information please see Waiver of Required Minimum Distribution for 2020.

IMPORTANT! The calculators have been updated for the SECURE Act of 2019 and the CARES Act of 2020. However, while the new laws are effective as of January 1st, 2020 and March 27th, 2020 respectively, the IRS has not released procedures for its implementation. Future IRS published procedures may have an impact on enforcement and interpretation of these Acts.