Taking Advantage of Higher QLAC Limits in 2019

You'll need to crunch some numbers before you contribute more toward your qualified longevity annuity contract for retirement.

(Image credit: FangXiaNuo)

Question: I invested $125,000 of my IRA in a qualified longevity annuity contract a few years ago. That was the maximum I could contribute then, but now I see that the maximum for 2019 is $130,000. Can I add $5,000 to the QLAC?

Answer: Possibly—though this can be a little tricky and requires a calculation, says Christine Russell, senior manager of retirement and annuities for TD Ameritrade.

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Rachel L. Sheedy
Editor, Kiplinger's Retirement Report