The final IRS longevity annuity regulations -- designed to help promote the use of qualified longevity annuity contracts with retirement accounts -- create an important option for retirees with 401(k), 403(b), 457(b) or IRA accounts to help ensure that they will not run out of retirement funds before they die through the use of qualified longevity annuity contracts.

Advisors will want to discuss this option with their clients, weighing the costs against the benefits and against other possible alternatives. Employers will also want to weigh the merits of adding this feature to their defined-contribution plans.

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