Bill Provides Tax Break for Annuities
Senators Kent Conrad (D-N.D.) and Sen. Pat Roberts (R-Kan.) have introduced S. 1297, The Retirement Security for Life Act.
Get quick answers to your annuity questions: Call 800-872-6684 (9-5 EST)
The act would provide a 50% tax break on as much as $20,000 in annual income from nonqualified lifetime annuities. The Senate bills mirrors H.R. 2748, the Retirement Security Needs Lifetime Pay Act, recently introduced into the House by Reps Early Pomeroy (D-N.D.) and Ginny Brown-Waite (R-Fla.).
"By providing a strong tax incentive for Americans to use lifetime annuities as part of their retirement portfolio, policymakers are helping people secure their retirement," Bill Waldie, chairman of Americans for Secure Retirement (ASR), a coalition representing the life insurance industry, said in a statement. "This is an important step toward addressing the anxiety many Americans feel toward their financial outlook during retirement."
Source: insurancenetworking.com - 06-25-2009
I was hesitant at first to buy an annuity on the internet. Once I got your quote report and read your reviews I was happy I found your website. Your phone reps were always very helpful. You made the whole thing go really simple. Thank you guys!
We'd love to hear from you!
Please post your comment or question. It's completely safe – we never publish your email address.
Comments (0)
There are no comments yet. Do you have any questions?