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Tax Impact of Stretch IRA Phase Out for Non-Spousal Beneficiaries

The Senate Finance Committee recently voted unanimously to eliminate stretch IRAs for non-spousal beneficiaries. The pending legislation imposes a five-year payout deadline for accounts left to non-spousal beneficiaries, with an exemption of $450,000 per account holder. While elimination of the stretch IRA has been a recurrent item among lawmakers, a few factors suggest the stretch IRA will ultimately phase out in 2017.
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