QLACs
QLAC Limit Increased Effective January 1, 2020
The IRS QLAC limit for how much of your IRA you can convert into a QLAC (special longevity annuity) has increased from $130,000 to $135,000.
Tag: QLAC Limit
QLACs
QLAC Limit Remains at $130,000 in 2019
The IRS QLAC limit for how much of your 401(k) or IRA you can convert into a Qualified Longevity Annuity Contract remains at $130,000 for 2019.
QLACs
New Legislation, If Passed, Would Increase QLAC Limits
One part of the The Retirement Plan Simplification and Enhancement Act, calls for making upward revisions of the QLAC limit. Under the new proposed rules, you could contribute up to $200,000 or 100% of your 401(k) or IRA account balance to a QLAC, but it is still up in the air as to whether this will get passed.
QLACs
QLAC Limit Increased Effective January 1, 2018
The IRS QLAC limit for how much of your 401(k) or IRA you can convert into a QLAC (special longevity annuity) has increased from $125,000 to $130,000.