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Discover financial solutions that protect your future and provide peace of mind. Whether you're exploring annuities, life insurance, or understanding employee benefits through your workplace, ÐÔÊÀ½ç´«Ã½ offers resources and products designed to meet your personal and family goals.
Support your workforce with innovative employee benefits and retirement solutions. ÐÔÊÀ½ç´«Ã½ partners with business owners, benefits administrators, and pension fund managers to create customized programs that attract and retain top talent while securing their financial future.
Simplify complex retirement and pension risk management with our tailored solutions for large organizations. ÐÔÊÀ½ç´«Ã½ specializes in working with institutions to address their unique challenges, offering expertise in pension de-risking and strategic retirement planning for a more secure future.
Empower your clients with confidence by leveraging ÐÔÊÀ½ç´«Ã½â€™s comprehensive portfolio of financial products. From annuities to life insurance, we provide the tools, resources, and support to help financial advisors and brokers deliver exceptional value and long-term results.
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Individuals
Discover financial solutions that protect your future and provide peace of mind. Whether you're exploring annuities, life insurance, or understanding employee benefits through your workplace, ÐÔÊÀ½ç´«Ã½ offers resources and products designed to meet your personal and family goals.
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Employers
Support your workforce with innovative employee benefits and retirement solutions. ÐÔÊÀ½ç´«Ã½ partners with business owners, benefits administrators, and pension fund managers to create customized programs that attract and retain top talent while securing their financial future.
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Institutions
Simplify complex retirement and pension risk management with our tailored solutions for large organizations. ÐÔÊÀ½ç´«Ã½ specializes in working with institutions to address their unique challenges, offering expertise in pension de-risking and strategic retirement planning for a more secure future.
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Financial Professionals & Brokers
Empower your clients with confidence by leveraging ÐÔÊÀ½ç´«Ã½â€™s comprehensive portfolio of financial products. From annuities to life insurance, we provide the tools, resources, and support to help financial advisors and brokers deliver exceptional value and long-term results.
Qualifying Longevity Annuity Contract (QLAC)
Helping Secure Retirements for Over a Decade
In 2014 the U.S. Treasury Department issued a new rule that allowed retirees to use a portion of their qualified savings to purchase a deferred income annuity. With that, Qualifying Longevity Annuity Contracts (QLAC) were born. The new regulation, which was strengthened with the SECURE Act in 2019 and SECURE Act 2.0 in 2022, provides a strategic tool for managing retirement income, optimizing tax outcomes, and providing financial security.
What is a QLAC?
A Qualifying Longevity Annuity Contract (QLAC) is a type of deferred income annuity specifically designed to be purchased with funds from a qualified retirement plan, such as an IRA or 401(k). The primary purpose of a QLAC is to provide a guaranteed income stream for life starting at a future date, with payments beginning as late as age 85.
QLACs can help give retirees confidence they won't outlive their savings.
Despite these benefits, QLACs may not be right for everyone. For example, they don’t offer the flexibility of some other investment options; when you purchase a QLAC, you do not have access to those funds until the annuity payouts begin. Consult your financial advisor before purchasing a QLAC.
Learn More About How QLACs Work
For more information, please contact ÐÔÊÀ½ç´«Ã½â€™s Institutional Retirement Solutions Group at: RetirementIncome@PacificLife.com
In order for the contract to be eligible as a QLAC, certain requirements under Treasury regulations must be met, including limits on the total amount of purchase payments that can be made to the contract. Qualified contracts, including traditional IRAs, Roth IRAs, and QLACs, are eligible for favorable tax treatment under the Internal Revenue Code (IRC). Certain payout options and features may not comply with various requirements for qualified contracts, which include required minimum distributions. Therefore, certain product features, including the ability to change the annuity payment start date, accelerate payments, and to exercise withdrawal features or payout options, may not be available or may have additional restrictions.
All guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company.
ÐÔÊÀ½ç´«Ã½, its affiliates, its distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor or attorney.
ÐÔÊÀ½ç´«Ã½ is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products. ÐÔÊÀ½ç´«Ã½, its affiliates, its distributors, and respective representatives do not provide any employer-sponsored qualified plan administrative services or impartial advice about investments and do not act in a fiduciary capacity for any plan.
ÐÔÊÀ½ç´«Ã½ refers to ÐÔÊÀ½ç´«Ã½ and its affiliates, including ÐÔÊÀ½ç´«Ã½ & Annuity Company. Insurance products can be issued in all states, except New York, by ÐÔÊÀ½ç´«Ã½ or ÐÔÊÀ½ç´«Ã½ & Annuity Company. In New York, insurance products are only issued by ÐÔÊÀ½ç´«Ã½ & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues.