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immediate annuity

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Last Updated On
Byjjames

L1: immediate annuityif an immediate annuity is purchased say age 50, do the payments have to conform the mid-term federal rate, to avoid the 10% penalty? i realize there may be better options than an annuity.2002-10-09 23:41, By: jjames, IP: [127.0.0.1]
L2: immediate annuityWhat is the source of the funds – is the money qualified (IRA, etc.) or from personal funds? 2002-10-10 04:20, By: Gfw, IP: [127.0.0.1]

L2: immediate annuity>qualified ira2002-10-10 08:48, By: jjames, IP: [127.0.0.1]

L2: immediate annuityIf the insurance company’s interest rate is less than or equal to 120% of the mid-term AFR and the insurance company is using the mortality table outlined in Rev.Rul. 2002-62, it should qualify today and in the future.
I asked the IRS that question on the phone last weekand couldn’t get an answer – my question only included the use ofthe insurance company’s annuity table which would be different than the new table.
2002-10-10 09:14, By: Gfw, IP: [127.0.0.1]

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