Qualified longevity annuity contracts may offer peace of mind for clients worried about funding retirement costs late in life, although it's unclear whether the Treasury Department will allow a portion of the premiums to be refunded if the client dies before longevity protection is needed, write Robert Bloink and William Byrnes. The Internal Revenue Service now allows QLACs to be purchased with qualified pre-tax dollars and the value of the contracts to be excluded from required minimum distribution calculations, Bloink and Byrnes write. Proposed rules would restrict the types of annuities that may be used as QLACs, they write.

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