The limit was increased this year. It allows you to defer RMD past age 72.
- The limit for how much of your 401(k) or IRA you can use to purchase a Qualified Longevity Annuity Contract (QLAC) has increased from $130,000 to $135,000.
- A QLAC is a special kind of longevity annuity that allows you to defer required minimum distributions (RMDs) past age 72.
- You can defer RMDs to as late as age 85 by converting a portion of your qualified account to a QLAC.
- The QLAC limit (maximum amount you can convert) is now $135,000, effective 1/1/2020, up from $130,000 in 2018 and $125,00 when the QLAC was created in 2014.
