{"id":4458,"date":"2023-07-25T18:13:26","date_gmt":"2023-07-25T23:13:26","guid":{"rendered":"https:\/\/kramerwealth.com\/?p=4458"},"modified":"2024-01-24T09:49:03","modified_gmt":"2024-01-24T15:49:03","slug":"secure-act-2-0-annuities-in-401ks","status":"publish","type":"post","link":"https:\/\/kramerwealth.com\/secure-act-2-0-annuities-in-401ks\/","title":{"rendered":"SECURE Act 2.0: Annuities in 401(k)s"},"content":{"rendered":"<p class=\"responsive-video-wrap clr\"><iframe title=\"SECURE Act 2.0: Annuities in 401(k) Plans\" src=\"https:\/\/player.vimeo.com\/video\/846988586?dnt=1&amp;app_id=122963\" width=\"1200\" height=\"675\" frameborder=\"0\" allow=\"autoplay; fullscreen; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p><b>SECURE Act 2.0: Annuities in 401(k) Plans<\/b><\/p>\n<p><span style=\"font-weight: 400;\">This is our seventh vlog about the changes to retirement plans under the SECURE Act 2.0 which became law in December 2022. You can find all of the other vlogs about other changes on our website.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today, we will talk about the annuities in 401(k) plans. It includes a provision that allows employers to more widely offer annuity options within 401(k) plans.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Before SECURE Act 2.0, employer plans were generally constrained in allowing employees to purchase annuities in their accounts due to the required minimum distribution (RMD) rules. With SECURE Act 2.0, it allows an employer to include annuity options in a plan by exempting certain annuity features from actuarial tests that would otherwise prohibit their use. The new law directs the Internal Revenue Service (IRS) to modify it\u2019s regulations to allow for more relaxed rules around the payment of premiums for an annuity, and how the annuity\u2019s annual payment is considered in the determination of the employee\u2019s RMD. The point of this is to allow employees to have the option of including an annuity in their plan if they want to.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This new law change also includes an increase in Qualified Longevity Annuity Contract (QLAC) Contributions. It was $125,000 but now it is up to $200,000. A retiree is allowed to spend up to $200,000 on a QLAC using their retirement money. The limit will be adjusted for inflation annually. The prior 25% of income limit rule is eliminated which means it is more accessible and easier for retirees to invest in. It becomes an option for anyone with a traditional retirement account to consider whether adding a QLAC might be beneficial.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are curious about the idea of utilizing an annuity option within your employer retirement plans, please feel free to contact us anytime to discuss further.<\/span><\/p>\n<p><br style=\"font-weight: 400;\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SECURE Act 2.0: Annuities in 401(k) Plans This is our seventh vlog about the changes to retirement plans under the SECURE Act 2.0 which became law in December 2022. You can find all of the other vlogs about other changes on our website.\u00a0 Today, we will talk about the annuities in 401(k) plans. It includes [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":4459,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[1],"tags":[34,40],"acf":[],"_links":{"self":[{"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/posts\/4458"}],"collection":[{"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/comments?post=4458"}],"version-history":[{"count":2,"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/posts\/4458\/revisions"}],"predecessor-version":[{"id":4462,"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/posts\/4458\/revisions\/4462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/media\/4459"}],"wp:attachment":[{"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/media?parent=4458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/categories?post=4458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kramerwealth.com\/wp-json\/wp\/v2\/tags?post=4458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}