What are the Pros and Cons of A QLAC (Qualified Longevity Annuity Contract)? It is a type of annuity that is designed to provide a guaranteed income stream during retirement. It is a specialized annuity that complies with specific regulations set by the Internal Revenue Service (IRS) in the United States.
The main feature of a QLAC is that it allows individuals to defer a portion of their retirement savings until a later age. Typically between 70 ½ and 85 years old. By doing so, individuals can ensure that they will have a guaranteed income stream for a predetermined period. […]
Full Post at www.ilearnlot.com