The Journal of Accountancy reports that IRA participants can purchase longevity annuities under newly issued final regs, writing:
Final regulations issued on Wednesday (T.D. 9673) permit individual retirement account (IRA) participants to enter into contracts for annuities that begin at an advanced age (often called longevity annuities), using a certain amount of their account balances, without having these amounts count for calculating required minimum distributions from the IRAs under Regs. Sec. 1.401(a)(9)-6. The rules allow participants in qualified defined contribution plans, 403(b) and eligible governmental 457 plans as well as IRAs (but not Roth IRAs or defined benefit plans) to purchase these contracts, which are called qualifying longevity annuity contracts (QLACs).