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RightCapital Updates its Leading Financial Planning Software Platform for Financial Advisors with SECURE Act 2.0

RightCapital, the financial advisers’ financial planning software with the highest growth, issued a software upgrade to include the SECURE 2.0 Act of 2022’s most important components.

To make it simple for financial advisers to provide their clients with the most precise, current financial plans, RightCapital has made the following modifications to its financial planning software platform:

President Joe Biden ratified the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act on December 29, 2022. SECURE 2.0 offers additional planning alternatives to assist American households in increasing their retirement savings, including the age at which Required Minimum Distributions (RMDs) must be made, catch-up contribution caps within corporate retirement plans, and Roth accounts.

Required Minimum Distribution (RMD) — Effective Jan. 1, 2023, the RMD age has been raised to 73 for individuals born between 1951-1959, and to 75 for those born in 1960 or later.
Roth 401(k) RMD — Beginning in 2024, RMDs are no longer required from Roth 401(k) accounts.
Qualified Charitable Distribution (QCD) — Beginning in 2024, the maximum annual QCD of $100,000 will be indexed for inflation.
401(k)/SIMPLE IRA Catch-Up Contributions — For 401(k) plans, the catch-up contribution limit for individuals whose age is 60-63 in 2025 and later will be increased to $10,000. For SIMPLE IRA plans, the catch-up contribution limit for individuals whose age is 60-63 in 2025 and later will be increased to $5,000. RightCapital will make further adjustments to the catch-up contribution limits as more details become available.

Free Webinar for Financial Advisors: SECURE Act 2.0 and Financial Planning (Approved for 1 CFP CE Credit)
On Thursday, January 12, 2023, at 1 p.m. EST, RightCapital will present a free webinar to assist financial advisers in utilising the new planning options made possible by SECURE 2.0. In order to provide their clients with more value, advisors will grasp the important changes made in SECURE 2.0 and how to implement them in their planning practises. Additionally, the event will demonstrate how to involve clients and potential clients in tax planning, including fresh opportunities linked to Roth conversions and tax-effective saving plans. Only registered financial advisers are permitted to attend this webinar.

News Summary:

  • RightCapital Updates its Leading Financial Planning Software Platform for Financial Advisors with SECURE Act 2.0
  • Check all news and articles from the latest Business news updates.
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