For the purposes of RMD calculations, the "fair market value" of a MYGA (or any other fixed annuity that is in the accumulation stage) is the account value, rather than the surrender value.
That's what I've observed with respect to my (many) MYGAs that are qualified; that is, IRA annuities. And it is supported by this excerpt from a Mass Mutual brochure, as follows:
As to my issues with Gainbridge not providing me with the fair market value of my IRA annuity as of 12/31/24 - I found that the using a very narrow "transaction date" range, as suggested by poster "Wrench" above, can provide me with what appears to be an accurate account value as of 12/31/24. If I was required to take RMDs in 2025, then I would feel comfortable in using this as the fair market value of my Gainbridge MYGA as of that date.
That's what I've observed with respect to my (many) MYGAs that are qualified; that is, IRA annuities. And it is supported by this excerpt from a Mass Mutual brochure, as follows:
https://www.massmutualascend.com/insigh ... it%20rider.The fair market value of your annuity is generally the account value. It may be greater if your annuity has a death benefit that exceeds the account value or has a living benefit rider.
As to my issues with Gainbridge not providing me with the fair market value of my IRA annuity as of 12/31/24 - I found that the using a very narrow "transaction date" range, as suggested by poster "Wrench" above, can provide me with what appears to be an accurate account value as of 12/31/24. If I was required to take RMDs in 2025, then I would feel comfortable in using this as the fair market value of my Gainbridge MYGA as of that date.
Statistics: Posted by Stinky — Sun Mar 09, 2025 4:54 am — Replies 3225 — Views 519056