|
|
A slew of retirement income bills.(LEGISLATION)
- Article from:
-
National Underwriter Life & Health
- Article date:
-
June 20, 2005
- Author:
- Postal, Arthur D.
|
Copyright informationCOPYRIGHT 2005 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
TWO SENATORS AND A DEMOCRAT in the House have introduced separate bills that further life insurers' goal of having a product that offers investors an annuity that provides a tax-advantaged monthly payout for life after retirement.
The insurance industry is lobbying for creation of such tax-advantaged annuities to be called "paychecks for life."
At the same time, Sen. Charles Grassley, R-Iowa, chairman of the Senate Finance Committee, and Sen. Blanche Lincoln, D-Ark., a committee member, introduced legislation last week that would provide an "above the line" federal income tax deduction for long term care insurance premiums and a $1,000 annual tax credit, which will ...