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

Sign Up for RightCapital's Free CFP® CE-Approved SECURE 2.0 Webinar for Financial Advisors on Thursday, Jan 12, 2023 at 1 P.M. EST

SHELTON, Conn., Jan. 3, 2023 /PRNewswire/ -- RightCapital, the fastest-growing financial planning software* for financial advisors, released a software update today to incorporate key provisions in the SECURE 2.0 Act of 2022.

The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act was signed by President Joe Biden on Dec. 29, 2022. From Required Minimum Distribution (RMD) age, catch-up contribution limits within workplace retirement plans, and Roth accounts, SECURE 2.0 introduces new planning opportunities to help American households save more toward retirement.

RightCapital has introduced the following updates to its financial planning software platform to make it seamless for financial advisors to deliver the most accurate, up-to-date financial plans for their clients:

• 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.

RightCapital will be releasing additional SECURE 2.0-related changes in the coming weeks. To learn more, follow our SECURE Act 2.0 updates.

Free Webinar for Financial Advisors: Financial Planning with SECURE Act 2.0 (Approved for 1 CFP CE Credit)
RightCapital will be hosting a free webinar on Thursday, Jan. 12, 2023, at 1 p.m. EST to help financial advisors leverage new planning opportunities introduced by SECURE 2.0. Advisors will gain an understanding of the key changes included in SECURE 2.0 and how to apply them in their planning practice to deliver more value to their clients. The session will also illustrate how to engage clients and prospects around tax planning, including new opportunities associated with Roth conversions and tax-efficient savings strategies. This webinar is open to registered financial advisors only.

Sign up here:  https://register.gotowebinar.com/register/3552050806970859350

RightCapital's mission is to create Right Plans for Real People™. RightCapital is used by thousands of financial advisors to grow their practices and set their clients on the path to financial success. Founded in 2015, RightCapital is the fastest-growing financial planning software with the highest user satisfaction among advisors*. Our modern, intuitive features make the financial planning process a breeze. From interactive retirement scenarios and tax-efficient distributions to insurance evaluation, student loan management and estate planning, we simplify the complexity of financial planning so anyone can understand how to plan for their future. For more information visit www.RightCapital.com. 

*Source: The Kitces Report Volume 1, 2021 and Volume 1, 2020 

SOURCE RightCapital Inc.

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