Qualifying Longevity Annuity Contracts and RMDs Sample Clauses

Qualifying Longevity Annuity Contracts and RMDs. A qualifying longevity annuity contract (QLAC) is a deferred annuity contract that, among other requirements, must guarantee lifetime income starting no later than age 85. The total premiums paid to QLACs in your IRAs must not exceed 25 percent (up to $125,000) of the combined value of your IRAs (excluding Xxxx IRAs). The $125,000 limit is subject to cost-of-living adjustments each year. When calculating your RMD, you may reduce the prior year end account value by the value of QLACs that your XXX holds as investments. For more information on QLACs, you may wish to refer to the IRS website at xxx.xxx.xxx.
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Qualifying Longevity Annuity Contracts and RMDs. A qualifying longevity annuity contract (QLAC) is a deferred annuity contract that, among other requirements, must guarantee lifetime income starting no later than age 85. When calculating your RMD, you may reduce the prior year end account value by the value of QLACs that your IRA holds as investments. For more information on QLACs, you may wish to refer to the IRS website at xxx.xxx.xxx.
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Related to Qualifying Longevity Annuity Contracts and RMDs

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