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.
Tag: QLAC
QLACs
How Does a QLAC Defer Required Minimum Distributions (RMDs)?
By transferring money out of your Traditional IRA and into a QLAC, you reduce the Traditional IRA balance subject to RMDs, deferring them until the QLAC income starts.
QLACs
Purchasing a QLAC in a Tax Deferred Plan
Instructions for how to purchase a Qualified Longevity Annuity Contract (QLAC) in a 401(k), 403(b), IRA or other plan.
QLACs
How to Purchase a QLAC with 401(k) Funds
You have a few options if you'd like to purchase a QLAC with a 401(k).
Insurance Companies
Insurer Spotlight: Protective Life Annuities and Company Basics
Protective Life, founded in 1907, is one of the annuity providers on Blueprint Income's platform.
Insurance Companies
Insurer Spotlight: Pacific Life Annuities and Company Basics
Pacific Life, founded in 1868, is one of the annuity providers on Blueprint Income's platform.
Insurance Companies
Insurer Spotlight: MassMutual Annuities and Company Basics
MassMutual, founded in 1851, is one of the annuity providers on Blueprint Income's platform.
Insurance Companies
Insurer Spotlight: Guardian Life Annuities and Company Basics
Guardian Life, founded in 1860, is one of the annuity providers on Blueprint Income's platform.
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.
Annuity Basics
Annuity Tax Forms for Qualified and Non-Qualified Income Annuities
Qualified and non-qualified income annuities have differing tax treatment, meaning that once your retirement income has begun you will receive different tax forms reporting the amount of income generated from your qualified or non-qualified annuity. Here are the tax forms for your annuity and when you can expect to receive them.