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Many married couples have one spouse with a large IRA and the other with little to no IRA money. Every person with an IRA must take RMDs after age 73, because RMDs are designed to drain the account down over the owner’s life expectancy.

Transform an
IRA to a JRA

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But what about the spouse
with little to no IRA money?

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Unfortunately, the IRS does not provide the tax benefits of an IRA, 401(k) or other comparable qualified accounts on a joint basis for couples.

 

However, there is a way to enjoy the same tax perks, while also creating competitive joint income payouts that would not be depleted by RMDs.

 

Simply reposition an individual’s qualified funds into an annuity with a Guaranteed Living Benefits Rider, like 

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WealthChoice FIA

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Create "Joint Retirement Account" Income

John and Mary's Story

John and Mary are both age 69 when they transfer John’s IRA into WealthChoice FIA with GLBR.

 

By age 73 the account value is $300,000 when they exercise the joint income payout.

When John passes away, Mary continues to receive $21,900 each year, even after the account value hits zero!

The payout factor of 7.3% generates annual payments of $21,900.

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