In 2020, SNA successfully advocated for Special Needs Trust protections in the SECURE Act which governs the way in which many deferrable retirement benefits are distributed. Because of this effort, retirement account distributions left to a person who is disabled or chronically ill or to a Special Needs Trust for a person who is disabled or chronically ill are exempt from the 10-year distribution rules. Subsequently, SNA has been working to ensure that SECURE is interpreted to allow charitable organizations to be named as the remainder beneficiary of the trust.
Special Needs Trust Improvement Act of 2022 – SNA Legislative Alert June 2022
Senators Young and Hassan Press Release on the Special Needs Trust Improvement Act of 2022, Introduced at the Request of SNA
Special Needs Trust Improvement Act of 2022
SNA comments on Proposed SECURE Act Regulations