Vision Capital Management Financial Advisor Portland Oregon

Vision Capital Management has been providing clients financial planning and investment management services since 1999. Visit our site to find out more.

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Jul 30 2025

The SECURE 2.0 Act and You: How New Legislation Is Enhancing Retirement Planning

by Maria Malloy, CFP®, Client Relationship Manager

In 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, significantly reshaping the retirement landscape for millions of Americans for the first time in many years. The SECURE 2.0 Act was enacted soon after in 2022, expanding upon and enhancing the original legislation. Since its passage, several measures of the SECURE 2.0 Act have already been rolled out while others go into effect this year. This article will highlight several significant provisions of the SECURE 2.0 Act and briefly explain how they may impact those planning for, or already in, retirement.

Required Minimum Distributions

Participants of traditional tax-deferred retirement accounts such as IRAs and 401(k) accounts must take required minimum distributions (RMDs) upon reaching a given age. For nearly 40 years, that age was 70½. It increased to 72 with the 2019 SECURE Act, and the SECURE 2.0 Act pushed it back further still. Today, individuals born between 1951 and 1959 must begin taking RMDs at age 73, and at age 75 for those born in 1960 or after. This allows the funds to remain in the account for additional growth potential and greater flexibility of withdrawals and tax management.

The SECURE 2.0 Act also reduced the penalty for missing an RMD and for taking out less than the required amount. The penalty is now 25% of the shortfall, down from 50% prior to the SECURE 2.0 Act. Furthermore, if a correction is made in a timely manner, the penalty is dropped to 10%.

Changes to Roth Retirement Accounts

  • Elimination of RMDs from employer-sponsored Roth plan accounts – Roth retirement accounts differ from traditional retirement accounts in that contributions are made with after-tax funds. While Roth IRAs are not subject to RMDs during the owner’s lifetime, prior to the SECURE 2.0 Act, employer-sponsored plans such as Roth 401(k) or Roth 403(b) plans were. Effective 2024, that is no longer the case, allowing Roth funds across plan types to be treated the same and lessening confusion for plan participants.
  • Employer contributions – For individuals still working and saving for retirement with an employer-sponsored Roth 401(k) plan, employees can now elect to have employer contributions be made to the Roth side of the plan. While the amount is taxable to the employee in the year the contribution is made, this provision allows employees to accumulate additional Roth savings for tax-free growth and withdrawals in retirement.
  • 529 plan rollover to Roth – Concerned that saving for education expenses with a 529 plan will leave unused funds behind after graduation? A highly anticipated statute of the SECURE 2.0 Act aims to alleviate that concern by allowing a lifetime maximum of $35,000 to be moved to a Roth IRA. This will allow the tax advantages of the 529 plan to be retained while giving a young adult a head start on retirement. Conditions apply however, so it is imperative to discuss this option with your financial professional before initiating any transfers.
  • Opportunities for small businesses and the self-employed – Another change the SECURE 2.0 Act brings is the opportunity for small businesses and self-employed individuals to establish Roth SEP IRAs (Simplified Employee Pension) and Roth SIMPLE IRAs (Savings Incentive Match Plan for Employees). Previously, these types of accounts only allowed pre-tax contributions.

The SECURE 2.0 Act also created three tax credit opportunities for small businesses. These aim to incentivize the implementation of a retirement savings plan for employees; have an automatic enrollment feature; and to make contributions on behalf of employees. Qualifying for the credits is subject to specific requirements, so it would be wise to consult with a licensed CPA to ensure that all conditions are met in order to attain the credit.

Catch-Up Contributions

The SECURE 2.0 Act contains multiple provisions related to retirement plan catch-up contributions, which allows older workers nearing retirement to contribute funds beyond the standard limit.

  • Individuals 50 years and older and earning more than $145,000 in the prior year (adjusted for inflation) must make catch-up contributions to 401(k), 403(b), and 457(b) plans with after-tax dollars to the Roth side of the retirement plan. This does not apply to catch-up contributions to IRAs. Originally set to become effective in 2024, the IRS granted a transition period to allow plans time to make the necessary administrative adjustments.
  • The allowable catch-up contribution limit to IRAs is now indexed for inflation and will adjust annually. This applies to workers aged 50 and above.
  • A “super catch-up” contribution for individuals aged 60-63 goes into effect this year. Applicable to employer-sponsored retirement plans only, it allows the participant to contribute 150% of the normal catch-up limit of $7,500. That means in 2025, individuals in that four-year age range can contribute an additional $11,250 for a total of $34,750.

Charitable Giving

For older individuals who are charitably inclined, qualified charitable distributions (QCDs) have been a great way to support a charitable cause while also reducing one’s taxable income. Upon reaching age 70½, individuals can gift directly from their IRA and have the amount count towards their RMD and be excluded from income.

The SECURE 2.0 Act changed the annual allowable QCD amount to now be indexed for inflation ($108,000 in 2025) and grants a one-time allowance to use $50,000 of the QCD limit to fund a charitable trust or annuity as an alternative to gifting directly to a charity.

Other Notable Provisions

  • A special needs trust that is a beneficiary of an IRA is now considered an eligible beneficiary. Therefore, the inherited assets do not need to be distributed within 10 years as is required for noneligible beneficiaries.
  • Student loan payments may now be treated as elective deferrals for employer-matching purposes in workplace retirement accounts. This enables the employee to make payments towards their student loans and receive the employer match contribution to their retirement account.
  • A surviving spouse who is a beneficiary of a retirement account can now choose to be treated as the deceased spouse for RMD purposes. Particularly if the deceased spouse is younger, this allows the surviving spouse beneficiary to delay RMDs until the deceased spouse would have been RMD age. The calculated RMD amount is also based on the deceased spouse’s younger age, making the RMD amount smaller.

These are just a few of the key changes introduced by the SECURE 2.0 Act. While the legislation presents exciting opportunities for nearly all Americans, its complexity necessitates careful interpretation and application. To make the most of these provisions, and to avoid unintended consequences, it is important to collaborate closely with a trusted financial advisor and tax professional. With proper planning, the SECURE 2.0 Act can be a valuable tool in helping Americans achieve their long-term retirement goals.

Sources:

  1. Fidelity Viewpoints, “SECURE 2.0: Rethinking Retirement Savings,” Fidelity.com, May 20, 2025.
  2. “H.R. 2954 – Securing a Strong Retirement Act of 2022,” Congress.gov, March 30, 2022.
  3. Levine, Jeffrey, “SECURE Act 2.0: Later RMDs, 529-to-Roth Rollovers, and Other Tax Planning Opportunities,” Kitces.com, December 28, 2022.

Written by Liz Swagerty Olsen · Categorized: 401K, FINANCIAL ADVISOR, FINANCIAL PLANNING, INVESTMENT MANAGEMENT, INVESTMENTS, PERSONAL FINANCE, RETIREMENT PLANNING, WOMEN · Tagged: RETIREMENT PLANNING

Jul 28 2025

Video: Providing for Your Pet in Your Estate Plan

 

Client Relationship Manager Maria Malloy, CFP®, shares how to ensure your treasured pet is cared for after you are gone.

Written by Liz Swagerty Olsen · Categorized: ESTATE PLANNING, FINANCIAL ADVISOR, FINANCIAL PLANNING, RETIREMENT PLANNING, WOMEN · Tagged: cats, dogs, pets

Jul 24 2025

Legislative Update: Tax and Spending Package

Client Relationship Manager Matthew Sheets, CFP®, shares aspects of the One Big Beautiful Bill Act passed in July 2025.

Written by Liz Swagerty Olsen · Categorized: 401K, ECONOMY, FINANCIAL PLANNING, INVESTMENT MANAGEMENT, RETIREMENT PLANNING, TAX PLANNING · Tagged: one big beautiful bill act, tax cuts and spending package

Jul 15 2025

Vision Capital Management Named to FA 2025 RIA Ranking

Vision Capital Management has been named to the FA 2025 RIA Ranking by Financial Advisor magazine, an annual list that recognizes top independent registered investment advisors (RIAs) across the nation based on assets under management (AUM).

To qualify for the ranking, firms must be independent, file their own ADV with the SEC, and offer comprehensive financial planning services. Hybrid RIA firms, broker-dealers, corporate RIAs, and investment advisor representatives are not eligible for inclusion. Vision Capital was one of only four firms from Oregon to earn a spot on the list.

“We are delighted to be recognized by Financial Advisor,” said Marina Johnson, CFA, managing director and principal. “It is a tremendous honor to be trusted by our clients and their families and help them navigate their financial futures.”

The accompanying article noted the significant growth in recent years among fee-based advisors, with assets under management increasing from $150 billion in 2015 to $260 billion in 2024. It also explored how artificial intelligence (AI) could reshape the industry by streamlining administrative tasks like client onboarding, data gathering, and compliance. While AI promises greater efficiency, the article emphasized the importance of human advisors to interpret regulations, offer insight, and maintain trust.

 

About Vision Capital Management
Serving both individuals and institutional investors since 1999, Vision Capital Management is a women-founded, employee-owned financial advisory firm based in Portland, Oregon. We are independent, fee-only financial advisors because we believe our clients’ interests should come first and foremost.

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Disclosure:
The Financial Advisor Magazine’s (“FA Mag”) RIA survey is a ranking based on assets under management at year-end of independent RIA firms that file their own ADV with the SEC. Vision Capital Management, Inc. (“VCMI”) was ranked in July 2025 by FA Mag, based on data as of December 31, 2024. FA Mag’s RIA ranking orders firms from largest to smallest, based on AUM reported by firms that voluntarily complete and submit the survey. To be eligible for the ranking, firms must be independent registered investment advisers filing with the SEC and providing financial planning and related services to individual clients. VCMI did not pay a fee to FA Mag in exchange for inclusion in the 2025 RIAs Survey & Ranking list.

Written by Liz Swagerty Olsen · Categorized: FINANCIAL ADVISOR, FINANCIAL PLANNING, INVESTMENT MANAGEMENT, OREGON, RETIREMENT PLANNING, WOMEN · Tagged: FINANCIAL ADVISOR, Financial Advisor Magazine, FINANCIAL PLANNING, Oregon, Top Registered Investment Advisor

Jun 27 2025

Providing for Your Pets in Your Estate Plan

Before his death, Chanel designer Karl Lagerfeld was accompanied everywhere by his beloved cat, Choupette. The beautiful snow-white feline was featured in product launches, had an Instagram account, and was the subject of two books. When Lagerfeld died in 2019, it was rumored that the cat had become one of the largest beneficiaries of his estate, estimated to be over $200 million.

Of course, you don’t need to be an ultra-wealthy fashion scion to care about the future of your pets. For many of us, our pets are more than animals – they are our family. But what happens to them if something happens to you?

Just like a human loved one, your pet depends on you. That’s why it is important to include them in your estate plan. Without clear direction, your pet’s future could be left to chance; but, with some foresight, you can ensure that they will continue to receive the love and care you want for them.

Here are a few suggestions of how you can protect your pet as part of your estate plan.

Choose a Caregiver

Designate someone you trust to care for your pet. Talk to them ahead of time to make sure they are willing and able to assume responsibility. When a person passes away, the authorities may have to default pet ownership to the next of kin, and if there haven’t been proper discussions prior, they may end up being rehomed. You may also want to consider a backup caregiver in the event that the first choice is unable to care for your pet.

Leave Detailed Instructions

Include information about your pet’s routines, medical needs, food preferences, and even personality quirks. If you have a trusted veterinarian, dog walker or pet sitter, be sure to include that information in your documentation as they may be able to provide perspective in your absence.

Set Aside Funds

You can leave money or property to your chosen caregiver with instructions for their use in caring for your pet. Alternatively, you can set up a pet trust, a legally enforceable way to provide money for your pet’s ongoing care.

Work with a Professional

An estate planning attorney can help you structure everything legally and effectively. They will likely have experience counseling clients and can share ways in which clients have accomplished this aspect of their legacy plan. While trusts for pets are legally recognized in most states, there may be variations in how they will be structured and enforced.

Planning for your pet is about love, responsibility, and peace of mind. It’s one more way to make sure your legacy reflects your values, and the lives that matter most to you.

Written by Liz Swagerty Olsen · Categorized: ESTATE PLANNING, FINANCIAL ADVISOR, FINANCIAL PLANNING, PERSONAL FINANCE, RETIREMENT PLANNING, WOMEN · Tagged: estate plan, ESTATE PLANNING, FINANCIAL PLANNING, legacy planning, pets

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