Inherited Retirement Plan? How to Easily Understand Payout Rules

Figuring out first which kind of beneficiary you are will make it easier to grasp the rules and timing on required distributions.

A woman looks frustrated and confused as she looks at her laptop.
(Image credit: Getty Images)

With the passage of the SECURE Act, there have been changes in required payouts for beneficiaries on retirement plans and IRAs that have many people in a state of confusion.

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Mike Piershale, ChFC
President, Piershale Financial Group
Mike Piershale, ChFC, is president of Piershale Financial Group in Barrington, Illinois. He works directly with clients on retirement and estate planning, portfolio management and insurance needs.