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Retirement and 529 Plans…A New Feature That Can Help Beneficiaries’ Retirement Planning

When the SECURE Act 2.0 was passed into law last December, it brought with it a new option for plan owners that can help them provide for retirement security for their intended beneficiary. As reported in a post by Ameriprise Financial, “…account owners will have the option to use excess 529 plan funds to jumpstart the retirement of their beneficiaries.” This new option will not be effective until 2024, and is designed to guard against situations where the intended beneficiary does not use the savings contributions as planned. Read the full Ameriorise post here…

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