Defined terms for the annuity market and lifetime income landscape.
The SECURE 2.0 Act lifetime income provisions are the elements of the SECURE 2.0 Act of 2022 that extended the lifetime income framework of the original SECURE Act, including expanded QLAC treatment, enhanced portability rules, and modifications to required minimum distribution mechanics.
The SECURE Act lifetime income provisions are the elements of the 2019 Setting Every Community Up for Retirement Enhancement Act addressing lifetime income in defined contribution plans, including the fiduciary safe harbor for annuity selection, portability, and lifetime income disclosure.
A select and ultimate mortality table is a mortality table in which the mortality rate depends on both current age and time since underwriting selection, with a lower-mortality select period reflecting recent screening and a higher-mortality ultimate period reflecting unselected long-run experience.
