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QLAC


joel
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No. The regulations as issued do not apply to defined benefit plans. The preamble does invite comments for ongoing discussion as to whether something along these lines would be desirable for DB plans, so there is apparently going to be ongoing discussion on this issue.

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Thank you, however, I was referring to the issuance of these QLAC by defined benefit plans where the premium is paid from defined contribution plan and IRA assets. For example: retiree is receiving his/her defined benefit pension and has $500,000 in his defined contribution plan account. The former employer sponsors both plans. Can the defined benefit plan write the QLAC?

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