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IRS Wants to Offer RMD Relief for Longevity Annuity Contracts in 403(b)/457, Other Retirement Plans
HR Daily Advisor Link to more items from this source
[Guidance Overview]
Feb. 6, 2012
Based upon [comments received], Treasury and the IRS concluded that 'substantial advantages' exist to modifying the RMD rules to make it easier for a participant to purchase a deferred annuity that is scheduled to commence at an advanced age -- such as age 80 or 85 -- using a portion of his or her account. Accordingly, the proposed regulations ... would provide that before annuitization, a participant could exclude the value of a longevity annuity contract that meets certain requirements from the account balance used to determine RMDs.

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