Stretch Ira
Is is possible to write a life annuity with a 30 year fixed period guarantee on a Stretch IRA for a 45 year male. Life span is 38 years. Do we have to write a 38 year fixed period or can we write a life annuity with a 30 year guarantee which could stretch beyond the IRS tables? Please advise.
Permalink Submitted by Alan Spross on Thu, 2008-08-28 22:02
Is the beneficiary a spouse or non spouse and what is their age?
Permalink Submitted by Sherwood Anderson on Fri, 2008-08-29 16:35
Non spouse, ages 45 and 48 males. Money is coming from death proceeds of a father’s 403b plan.
Permalink Submitted by Alan Spross on Sun, 2008-08-31 03:21
The 30 year period certain should be OK or any period equal to or less than the 38.8 year life expectancy of the 45 year old.
I assume here the the 403b plan has agreed to provide the direct transfer to an inherited IRA, probably one for each beneficiary? Also, that the father’s death was not prior to 2007.