Provisions Concern Required Minimum Distributions and Opportunities for Roth Features in Workplace Retirement Plans, Including Self-Directed SEP IRAs and SIMPLE IRAs

ROSELAND, NJ, September 15, 2023 /24-7PressRelease/ — Provisions in the SECURE Act 2.0, signed into law late last year, affect retirement plans in several ways, including required minimum distributions (RMDs). As Jaime Raskulinecz, CEO of Next Generation Services pointed out, these changes affect owners of self-directed IRAs the same as they do investors with traditional retirement plans.

“Among the big changes is the higher age at which retirement plan account owners must begin taking required minimum distributions from their IRAs,” noted Raskulinecz, whose firm administers self-directed retirement plans. “The SECURE Act of 2019 increased that age to 72 and SECURE 2.0 upped it to 73. This is good news for taxpayers who do not yet need to pull that retirement income from their accounts, as they can let the investments grow in value in tax-advantaged accounts.”

Additional changes involve returning erroneous RMDs in 2023 that could have been delayed until next year, reduced penalties for a missed RMD, and some penalty waivers for certain beneficiaries of inherited IRAs.

Self-directed IRAs allow investors to include investments in many alternative assets—such as real estate, precious metals, private equity funding, and royalties—within their tax-advantaged plans. Next Generation provides comprehensive account administration and asset custody for its clients who self-direct their retirement portfolios. Account owners may self-direct Traditional and Roth IRAs, SEP and SIMPLE IRAS, education savings accounts, and health savings accounts. Self-directed solo(k) plans are another option for business owners.

In addition to the provisions regarding RMDs, SECURE 2.0 has expanded opportunities for Roth features in workplace retirement plans, including SEP IRAs and SIMPLE IRAs; 529 plans; and Roth contributions for certain 401(k) plans.

“These Roth features affect annual contribution limits and catch-up contributions, which account owners must be aware of. Plus, given the prevailing inflation rates, the IRS has increased the contribution limits for IRAs and qualified workplace retirement plans, which includes solo(k) and other self-directed retirement plans.”

You can read about these and other SECURE 2.0 provisions affecting retirement plans at For more information about self-direction as a retirement savings strategy, visit

About Next Generation Services, LLC
Founded on the philosophy that every person should have control over their retirement plans, Next Generation educates consumers and professionals about self-directed retirement plans and nontraditional investments, a strategy at one time reserved only for the very wealthy. Next Generation Services provides comprehensive account administration and transaction support, and its sister company, Next Generation Trust Company, acts as custodian for all accounts. The neutral third-party professionals at Next Generation expertly guide clients and their trusted advisors as part of their white glove, personalized service for a seamless transaction experience from start to finish. For more information, visit, or contact Next Generation at 888.857.8058 or [email protected].

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