H.R.2748 - Retirement Security Needs Lifetime Pay Act of 2009

To amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments by excluding from income a portion of such payments. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments by excluding from income a portion of such payments. as introduced.
  • Short: Retirement Security Needs Lifetime Pay Act of 2009 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
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06/08/09
 
 
 
 
 
 
 

Official Summary

Retirement Security Needs Lifetime Pay Act of 2009 - Amends the Internal Revenue Code to: (1) allow an exclusion from gross income for 50% of lifetime income payments from certain annuity contracts, up to $10,000; (2) exclude longevity insurance benefits from employee benefit plan minimum d

Official Summary

Retirement Security Needs Lifetime Pay Act of 2009 - Amends the Internal Revenue Code to:
(1) allow an exclusion from gross income for 50% of lifetime income payments from certain annuity contracts, up to $10,000;
(2) exclude longevity insurance benefits from employee benefit plan minimum distribution requirements; and
(3) allow a tax exclusion for amounts received as an annuity under any portion of an annuity, endowment, or life insurance contract.

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