IRS Issues Final Regulations Simplifying Use of Annuities in Retirement Plans | Practical Law
The Internal Revenue Service (IRS) issued final regulations relating to the use of longevity annuity contracts in defined contribution plans. These regulations provide guidance necessary to comply with the required minimum distribution (RMD) rules under Section 401(a)(9) of the Internal Revenue Code (IRC) applicable to a plan that holds a longevity annuity contract.