Qualifying Longevity Annuity Contract (QLAC). An annuity contract that is purchased from an insurance company for a Participant and that satisfies the requirements under Treas. Reg. §1.401(a)(9)-6, Q&A-17.
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Sources: Governmental Nonstandardized Defined Contribution Plan
Qualifying Longevity Annuity Contract (QLAC). An annuity contract that A QLAC is purchased from necessary to cover any fees and expenses, taxes, or investment an insurance company for a Participant investment vehicle and that satisfies the requirements under Treas. Reg. §1.401(a)(9)-6, Q&A-17payout option we may choose to allow penalties.
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