Thursday
Feb162012
Did You Know?
Thursday, February 16, 2012 at 10:24AM by Banking Spectrum
IRS Proposed RMD Regulations
The IRS has issued a proposed regulation adding an annuity option to the Required Minimum Distribution (RMD) rules. The proposed regs would allow traditional, SEP, and SIMPLE IRA owners to purchase Qualified Longevity Annuity Contracts (QLACs) as part of their retirement plan. A participant may want to purchase a QLAC with funds from a retirement plan, which would begin payments at an advanced age, typically 80 or 85.
The IRS has issued a proposed regulation adding an annuity option to the Required Minimum Distribution (RMD) rules. The proposed regs would allow traditional, SEP, and SIMPLE IRA owners to purchase Qualified Longevity Annuity Contracts (QLACs) as part of their retirement plan. A participant may want to purchase a QLAC with funds from a retirement plan, which would begin payments at an advanced age, typically 80 or 85.
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Pension
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