IRS Regs on Longevity Annuities and IRA’s

The IRS issued final regulations yesterday that will allow those with IRA accounts, along with some other qualifying accounts, to purchase qualifying longevity annuity contracts. Now, IRA participants can purchase longevity annuities with up to $125,000 or 25% , which ever figure is lower, out of their IRA balance.

See Sally P. Schreiber, IRA Participants Can Purchase Longevity Annuities, Journal of Accountancy, July 1, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.