Last summer the IRS released final regulations on QLACs, or Qualifying Longevity Annuity Contracts. These "deferred income annuities" can be purchased by IRAs and qualified plans (within limits) and the contract values will be exempt from RMD rules until age 85, thus allowing even greater benefit of tax deferral. However, the regulations are fairly complex and raise some questions that they don't answer.
Here are six questions that producers are asking about this new way of thinking about retirement products.
1. Can a QLAC in a qualified plan be converted to a Traditional IRA?
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.