It’s not often the federal government makes a decision that nearly everyone is happy with, but that’s what happened with a regulation that was finalized by the U.S. Treasury Department. Changes to the regulations under Internal Revenue Code section 401(a)(9) allow individuals the ability to defer the distribution of their qualified assets beyond age 70 ½ through the purchase of a Qualifying Longevity Annuity Contract (QLAC).

Generally, the new rules provide an exception to Required M...