What is true of a qualified longevity annuity contract, Accounting Basics

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What is true of a qualified longevity annuity contract

Question: Which of the following is true of a qualified longevity annuity contract (QLAC) in 2023? Group of answer choices The most that can be contributed to a QLAC in 2023 is 25% of the retirement account. A QLAC is not annuitized until the payouts begin. Assets in a QLAC are not counted for RMD purposes until the contract starts withdrawals. The longest a QLAC can defer withdrawals is until age 90.

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Accounting Basics: What is true of a qualified longevity annuity contract

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Accounting Basics: What is true of a qualified longevity annuity contract

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