New Treasury Department Regulations
Have you heard about the changes to RMD regulations?
Currently, with traditional IRAs and qualified retirement plans, you typically must begin taking required minimum distributions (RMDs) no later than age 701/2. But with recent regulations from the treasury Department, by purchasing a “Qualifying Longevity Annuity Contract” (QLAC), you can defer the distribution of a portion of your qualified assets beyond 701/2, reducing your RMDs until a later date.
Americans are now living longer than ever. The future of Social Security is unclear. Fewer employers are offering pension plans. Given these factors, it’s important to ensure your savings last for 30 or more years you could spend in retirement. A QLAC is one option that can help you extend a portion of your savings.
Have you heard about the changes to RMD regulations?
Currently, with traditional IRAs and qualified retirement plans, you typically must begin taking required minimum distributions (RMDs) no later than age 701/2. But with recent regulations from the treasury Department, by purchasing a “Qualifying Longevity Annuity Contract” (QLAC), you can defer the distribution of a portion of your qualified assets beyond 701/2, reducing your RMDs until a later date.
Americans are now living longer than ever. The future of Social Security is unclear. Fewer employers are offering pension plans. Given these factors, it’s important to ensure your savings last for 30 or more years you could spend in retirement. A QLAC is one option that can help you extend a portion of your savings.