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: Structured Settlements 4Real

The Retirement Security Needs Lifetime Pay Act of 2009

By John Darer

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Think there is no Congressional support for annuities? Think again!



H.R. 2748 (The Retirement Security Needs Lifetime Pay Act of 2009) was just introduced by Congresspersons Earl Pomeroy (D-ND) and Ginny Brown-Waite (R-FL), both members of the House Ways and Means Committee. The bill:



  1. Encourages the use of annuities in IRAs and qualified plans by excluding a portion of IRA and qualified plan annuity proceeds from retirement income.
  2. Contains an income exclusion provisions to encourage retirees to receive some of their retirement savings in the form of guaranteed lifetime annuity payments. 
  3. Incorporates a clarification of the taxation of payments from partially annuitant deferred income annuity contracts. 

Full post as published by Structured Settlements 4Real on July 06, 2009 (boomark / email).

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