QLAC: How a Qualifying Longevity Annuity Contract Cuts RMDs and Protects Late-Life Income
A qualifying longevity annuity contract (QLAC) lets you move part of an IRA or 401(k) into a deferred annuity that pays income later in life while excluding that money from required minimum distributions. Learn the limits, rules, pros, cons, and how to buy one.