Does CA conform with the Secure Act - Spidell

Does CA conform with the Secure Act

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Message Board Does CA conform with the Secure Act

  • This topic has 1 reply, 2 voices, and was last updated 1 week, 6 days ago by Sandy Weiner.
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    • #225295
      Gregory Beck
      Participant

      The Secure Act (one of the provisions) calls for up to $5,000 of withdrawal for the birth of a child.  Does California conform?  The law also extends the RMD date to age 72 and allows for IRA contributions after age 70 and 1/2.  Does CA Conform?

    • #225309
      Sandy Weiner
      Participant

      We believe California conforms to the penalty-free withdrawal treatment for the $5,000 for birth or adoption of a child and the increase in the RMD mandate age to 72.  CA does not conform to the provision allowing IRA contributions after age 70 and 1/2.  See our article  “SECURE Act not so secure for California taxpayers” in the February 2020 issue of our California Taxletter.

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