Employers may want to take note of the qualifying longevity annuity contract rules that were put in place last year under the required minimum distribution rules of the Internal Revenue Code.
Fixed annuity sales in 2014 reached their highest level since 2009, according to the Insured Retirement Institute, reflecting individuals desire for a lifetime income stream in retirement. And although the IRI does not track group sales of annuities, Frank OConnor, vice president of research and outreach for the IRI, said that employers should make a point of understanding the recent QLAC rules.
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