We Love (Some) Annuities, Says Treasury Deputy
June 7, 2016 by John Hilton
WASHINGTON, D.C. — A top Department of Treasury official told industry officials this morning that the Obama administration is working on regulation tweaks to encourage greater investment in annuities.
Speaking during the IRI Government, Legal and Regulatory Conference 2016, J. Mark Iwry, deputy assistant secretary for retirement and health policy, mentioned several areas the Treasury Department is trying to find a middle ground.
For example, the department is trying to modify the 25 percent limit on Qualified Longevity Annuity Contract purchases from Individual Retirement Accounts. The QLAC rule was announced two years ago during the IRI conference and allows retirees to delay Required Minimum Distributions from 70 1/2 to as late as 85.
Click HERE to view the full article. INN news articles may require a subscription to read.
