ACLI Defends Retirement Bill Against ‘Stretch IRA’ Attack

July 19, 2019 by Allison Bell

The American Council of Life Insurers is defending the Setting Every Community Up for Retirement Enhancement (Secure) Act of 2019 bill against attacks on one of the bill’s “pay for” provisions: a provision that could discourage use of “stretch individual retirement accounts,” or stretch IRAs, in efforts to pass wealth on to heirs.

The House passed its version of the bill by a 417-3 vote in May, with strong support from the AARP and labor groups as well as financial services groups.

But some financial advisors were expressing concerns about the stretch IRA before the House vote.

Anger about the stretch IRA provision has now bubbled up into the Wall Street Journal.

Click HERE to read the full article via ThinkAdvisor.

Originally Posted at ThinkAdvisor on July 18, 2019 by Allison Bell.