The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
By Targeted News Service
ALEXANDRIA, Va., April 24 -- New York Life Insurance, New York, has been assigned a patent (8,706,595) developed by Jodi L. Kravitz, New York, and William Formon, Rye, N.Y., for a "flexible premium income annuity system and method."
The patent application was filed on Oct. 18, 2007 (11/874,374). The full-text of the patent can be found at http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=8,706,595.PN.&OS=PN/8,706,595&RS=PN/8,706,595
Written by Balkishan Dalai; edited by Jaya Anand.