by Alexander Long on January 30, 2020

SECURE Act Updates are Live


With a day to spare, we’ve updated all Money Tree Software to reflect the changes made in the 2020 Federal Tax information and the SECURE ACT. Each program has been thoroughly tested to ensure that our results are accurate and compliant with the changes in the SECURE Act.

Aside from the standard adjustments to standard deductions, contribution limits, tax brackets, etc. today’s update includes changes to how retirement accounts will be treated after the passage of the SECURE Act in 2019. We’ve received your requests to learn about what’s changing in the software to reflect the passage of the SECURE Act. This new law moves the RMD start age from 70.5 to 72 and requires most inherited IRAs to be fully distributed within 10 years of being inherited (limiting the common stretch provision in the past).

Provided are brief summaries of changes in our programs:

Silver Financial Planner:

  • Contribution limits to retirement plans increased for 2020 limits
  • Estate tax constants updated for 2020 values
  • RMDs will begin at age 72 for applicable retirement plans

TOTAL Planning Suite:

  • Contribution limits for retirement plans increased for 2020 limits
  • Federal tax information increased for 2020 levels (Estate, Income Taxes, Standard Deductions, etc.)
  • RMDs will begin the year an individual turn 72
  • Addition of the "10 Year Rule" for Inherited IRAs

When you run reports in TOTAL you may notice the RMD start age may not appear at the expected age. In order to have the most precise results, the program implements some conditional logic for retirement plans. For more information click here to see our post on RMD start ages.

Questions? Please feel free to reach out to Technical Support by calling 1-877-421-9815, or email support@moneytree.com.

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Alexander Long

Alex is a Technical Support Specialist at Money Tree Software. He works with advisors on a daily basis, helping them navigate the software and providing tips and recommendations for a wide array of scenarios and models within the software.