QLACs / fixed annuities could help with outliving retirement savings
By Hicbd
Thu Sep 19 2024 10:29 am
"Americans worried about outliving their retirement savings can benefit from a little-known, tax-advantaged scheme which will guarantee their income for life. From this year, savers can use up to $200,000 from their retirement accounts to purchase qualified longevity annuity contracts (QLACs). Previous contribution limitations stipulated you could only put $145,000 in QLAC or 25 percent of your income - depending on which figure was lowest."
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