SECURE act information
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This page will be updated as additional regulatory guidance becomes available.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law in December 2019. Chevron is currently reviewing all of the provisions in the SECURE Act. One provision of this Act allows retirement plan sponsors, like Chevron, to change the required minimum distribution age from age 70-1/2 to 72. This law change only applies to those people born on or after July 1, 1949 and will allow for greater flexibility should you, after retiring, decide to delay payment of your benefit from either the Chevron Retirement Plan or Employee Savings Investment Plan.
Chevron and other employers await regulatory guidance on implementation of this new law, and will communicate timing and any other changes at a later date.