U.S. News Features Comments from Mark Edwards About the Future of Annuities
July 29, 2015
U.S. News & World Report spoke with Gardere Tax Partner T. Mark Edwards about the promising future of annuities. As a result of the Qualified Longevity Annuity Contract established by the IRS, annuities are predicted to gain momentum in the coming years thanks to new guidelines for investors on creating annuity-based pensions.
However, QLAC requires a cap of 25 percent of total individual retirement account-type assets, or $125,000, whichever is less. "These contracts do provide some form of protection against running out of funds in retirement," said Mr. Edwards. "But [a QLAC] generally would not substitute for defined benefit pension programs that used to be widely maintained by employers."
The full article can be accessed here.
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