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Treasury Finalizes QLAC Regulations
The U.S. Department of Treasury has finalized rules that clear the way for using Qualified Longevity Annuity Contracts with retirement assets such as IRAs or 401(k) plans. So reports Cape Cod Today.
Among other benefits, the annuities allow individuals to delay withdrawing assets from their retirement savings accounts beyond the age of 70 ½, which is when minimum distribution requirements apply.
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