Tuesday, December 2, 2014

How QLACs fit into Existing & New Retirement Plans - Advanced Retirement Strategies



Qualified longevity annuity contracts (QLAC) can be used in existing qualified or new plans like 401(a), 401(k), 403(b) governmental 457(b) and individual retirement accounts (IRA). The retirement plan documents must change to accommodate QLACs.

A QLAC can be single or joint life, life only or with life cash refund. The deferred income annuity (DIA) can support the QLAC can offer with CPI-U, 1-5% simple or compounded or flat dollar amount.

Roth IRAs, inherited IRAs and retirement accounts currently in required minimum distributions (RMD) mode are not eligible. There is no death benefit return on premium plus interest (ROP), just ROP or death benefit.

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Steve Savant

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