Wednesday, January 7, 2015

How qualified longevity annuity contracts will affect retirement plans - End-of-the-Year Annuity Update



Qualified longevity annuity contracts (QLACs) use deferred income annuities. The IRS has granted a particularly favorable status to QLACs for the purpose of deferring required minimum distributions.

The QLAC rules of engagement permit a qualified plan participant to use 25% of their qualified plan, not to exceed $125,000 ($250,000 for married couples) and defer distributions until age 85. The vast majority of qualified plans and retirement models will need to be reconfigured to accommodate the impact of adding QLACs to their overall planning strategies. The potential ramifications of deferring QLAC monies could have a profound effect, the result of which could be the reduction of taxes. Syndicated financial columnist and talk show host Steve Savant interviews nationally recognized annuity expert Mike McGlothlin, ChFC, CLU, CFP. This end of the year update highlights some of the industry's leading annuity product innovations and planning concepts into a five part series.

Syndicated financial columnist and talk show host Steve Savant interviews nationally recognized annuity expert Mike McGlothlin, ChFC, CLU, CFP. This end of the year update highlights some of the industry's leading annuity product innovations and planning concepts into a five part series. http://youtu.be/qO7b8z7msMc

About Steve Savant

Steve Savant

As the National Marketing Spokesperson for Ash Brokerage, Steve Savant looks forward to meeting financial professionals in every way possible - in person or by video through conferences and social media.

Read More About Steve >>

Powered by Ash Brokerage

At its core, Ash Brokerage is about Honoring the Impact ® in the lives of the financial professionals who choose to partner with us — we are an engaged group of individuals who really care. We help advisors and their clients protect those they care about in impactful, meaningful ways ... Simply put, we make a difference in the lives of people.

Learn More >>
Ash Brokerage

Give Us A Call: (800) 589-3000