If You Hate RMDs, You Might Love QLACs

A newer feature on certain deferred income annuities can help you with RMDs ... and you've probably never heard of it.

(Image credit: Thomas Demarczyk)

In July of 2014 the Treasury Department approved the use of Qualifying Longevity Annuity Contracts* (QLAC for short) in what was arguably one of the biggest changes impacting retirement savers since the Roth IRA in 1997. The problem is, virtually no one heard of this announcement: clients, accountants, even most financial advisers.

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Caleb Harty is an Investment Adviser Representative of Eagle Strategies LLC, a Registered Investment Adviser and a Registered Representative offering securities through NYLIFE Securities LLC (member FINRA/SIPC), a Licensed Insurance Agency, 189 North Main Street, Unit 2A, Middleton, MA 01949. Phone: 978-972-5961 Eagle Strategies LLC and NYLIFE Securities LLC are New York Life Companies. Harty Financial is not owned or operated by NYLIFE Securities LLC or its affiliates.


This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Caleb Harty, CFP®
Founder and Principal, Harty Financial

Caleb is a principal at Harty Financial and a CERTIFIED FINANCIAL PLANNER™ (CFP®). He has his BA in Economics from Gordon College in Wenham, Mass. Caleb is one of only a few advisers in the New England area who specialize in working with families that have a child with special needs. The connection is a personal one, as his brother-in-law has Down syndrome. He also focuses on holistic financial planning for successful professionals, business owners and those approaching retirement.