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Jun 06, 2019

The SECURE ACT Passes the House in Congress

By Heather Kelly

Photo credit: Getty Images

In my last blog, I discussed in detail the pending legislation in Congress that seeks to grapple with the retirement income crisis that many Americans are facing. I also promised to provide updates as the legislation makes its way through the halls of Congress, on its way to becoming law.

On May 30th, the House of Representatives passed the SECURE ACT by an astounding bipartisan vote of 417-3. It is expected to be approved in the Senate sometime this summer.

As I mentioned in my blog, the SECURE Act will make it easier for employers to provide access to retirement plans; help workers to participate in such plans so they can save more proactively; and promote the use of annuities in employer-sponsored retirement plans.

I have previously written extensively about the positive changes in the annuities market so I won’t repeat myself here. But I will say that, at the very least, when the SECURE ACT becomes law, it would be wise of business owners to consult with their advisers to determine which annuities may be appropriate to offer as part of their retirement plans.

I will have additional updates as things progress. Please stay tuned!

Disclosures: Investing involves risk and clients should carefully consider their own investment objectives and never rely on any single chart, graph or marketing piece to make decisions. The information contained herein is intended for information only, is not a recommendation to buy or sell any securities, and should not be considered investment advice. Please contact your financial adviser with questions about your specific needs and circumstances.

All data quoted in this piece is for informational purposes only, and United Capital does not warrant the accuracy, completeness, timeliness, or any other characteristic of the data. All data are driven from publicly available information and has not been independently verified by United Capital.

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United Capital Financial Advisers, LLC (United Capital) provides financial guidance and makes recommendations based on the specific needs and circumstances of each client. For clients with managed accounts, United Capital has discretionary authority over investment decisions. Investing involves risk and clients should carefully consider their own investment objectives and never rely on any single chart, graph or marketing piece to make decisions. The information contained in this blog is intended for information only, is not a recommendation, and should not be considered investment advice. Please contact your financial adviser with questions about your specific needs and circumstances. This blog is a sponsored blog created or supported by United Capital and its employees, organization or group of organizations. This blog does not accept any form of advertising, sponsorship, or paid insertions. Certain authors of our blog posts may be influenced by their background, occupation, religion, political affiliation or experience. It is important to note that the views and opinions expressed on this blog are that of the owner, and not necessarily United Capital Financial Advisers. As a Registered Investment Adviser, United Capital does not allow any testimonials on their blog, and any comments deemed as such United Capital will remove.

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