Description: The proposed regulations define a class of products known as “qualifying longevity annuity contracts” (QLACs), which are excluded from the account balance used to determine required minimum distributions. By exempting longevity annuities (up to a specified limit) from the RMD rules, it is hoped that it will provide individuals under defined-contribution plans the option to use an “affordable” portion of their account balance to purchase a longevity annuity. The proposed regulations apply to tax-qualified defined-contribution plans under section 401(a), section 403(b), individual retirement annuities and accounts (IRAs) under section 408, and eligible governmental section 457 plans.

Description: A brief rundown of the articles contained in the October 2012 issue of Taxing Times.

Description: A discussion of risk and tax risk.

Description: The IRS released the details of a program to allow life insurers to correct inadvertent failures to comply with the modified endowment MEC rules under section 7702A of the Internal Revenue Code the “Code”.

Description: Full version of Taxing Times, May 2005, Volume 1, Issue No. 1.

Description: This article discusses risk transfer and how difficult it is to define and describe. For actuaries, the challenge is to develop an analytical framework under which the presence of insurance risk can be identified and assessed.

Description: A discussion of the successes of the Taxation Section, with special emphasis on the increased visibility of tax in the actuarial profession.

Description: A discussion about the taxation of life insurance companies and affiliated products and the ramifications it has annuity contracts and long-term care.

Description: A discussion about the Taxation Section goals and accomplishments including meetings, webinar program, volunteering and research activities.

Description: A discussion of: the value of a life insurance contract distributed from a qualified pension plan, IRS industry director directive on the DRD for life insurance separate accounts and IRS actuaries raising new issues on AG 34 tax reserves.