Help your participants maximize lifetime income
The longer QLAC income payments are deferred, the greater they will be. This income is guaranteed* for life, which enables participants to gradually spend down assets in retirement, and know that a secure and predictable income stream will support them in later years.
QLAC regulations state that assets used to purchase a QLAC will not be included in the calculation of Required Minimum Distributions (RMDs). This means that income payments from a QLAC can be deferred beyond the required beginning date, up to age 85. This helps reduce RMD amounts in earlier years, potentially resulting in lower taxes.
*Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.