Escape From the QLAC: IRS Clarifies Rules on Longevity Annuity Exchanges

August 14, 2024 by Allison Bell

Policymakers in Washington are trying to get deferred income annuities off economists’ list of nice ideas and onto the list of products retirement savers really use.

The Setting Every Community Up for Retirement Enhancement (Secure) 2.0 Act of 2022 updated some rules on qualified longevity annuity contracts, or QLACs. The Internal Revenue Service is starting to add those rules to the regulations clients use to live their financial lives.

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Originally Posted at Think Advisor on August 7, 2024 by Allison Bell.