About RMDs and QLACs. The IRS requires that after age 70 ½, an IRA beneficiary make Required Minimum Distributions (“RMD”) from their IRA. A Qualified Longevity Annuity Contract (QLAC for short – pronounced cue-lack) can insure against running out of money in retirement and help reduce the amount of RMDs an investor must pay. Click here to learn how...