GRIP RETIREMENT ^SM, LLC


A Guaranteed Retirement Income Program for pension and qualified rollovers.
 

Press Releases
These are the press releases we've issued over the last years. You may want to search for topics by keyword.

GRIP Retirement LLC Establishes Internet Presence
See the press release for more details. 

Pending Bill - 20,000 Tax Free Annually!
H.R. 4849 Retirement Security for Life Act

H.R. 4849 would exempt 50 percent of the taxable cash flow from an annuity (up to $20,000 annually) from income tax. The annuity must be a commercial, non-qualified payout policy that has a life contingency.

Samples of how H.R. 4849 would work.

Assume a male age 65, has a $200,000 cost basis and an accumulation value of $600,000. With a guaranteed life annuity payout that pays $50,000 annually and a life expectancy of 20 years, $10,000 ($200,000 divided by 20 years) is the tax-excluded income cost basis and $40,000 ($50,000 minus $10,000) is taxable. Under H.R. 4849, 50% of that $40,000 ($20,000) would be tax-free as well!

Now, suppose a female, age 65, has $1.2 million in cash and tax-paid investments. She uses this cache to acquire a single premium immediate annuity that pays her $100,000 annually (for an anticipated 20 years). Of course, $60,000 of each payment ($1.2 million divided by 20 years) is tax-free, and $40,000 is taxable. But under H.R. 4849, $20,000 of each taxable portion would be exempt.

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Last modified: 04/08/08