Retirement reform: Key SECURE Act provisions that will affect you

Featured on FOX BUSINESS

By Brittany De Lea

Lawmakers are preparing to pass comprehensive retirement reform, which would give more people access to retirement accounts, for the first time in more than a decade, with the aim of helping Americans save enough to live comfortably throughout their older years.

The Setting Every Community Up for Retirement Enhancement, or SECURE, Act is tied to a bipartisan spending bill that Congress must pass in order to sidestep a government shutdown at the end of the week.

The legislation contains a number of provisions that experts believe could meaningfully help Americans stash away more money, but also some that are perceived as negative for taxpayers.

“It [is] quite a comprehensive bill,” Chad Parks, founder and CEO of Ubiquity Retirement + Savings, told FOX Business. “I think that the best way to characterize this is, it’s kind of cleaning house … [Lawmakers] knew they had all these little things that are not quite right.”