1.408–8 to eliminate the requirement that premiums for qualifying longevity annuity contracts be limited to 25 percent of an individual’s account balance, and to make such corresponding changes to the regulations and related forms as necessary to reflect the elimination of this requirement. (2) Increase dollar limitation (A) The Secretary shall amend Q&A–17(b)(2)(i) of 26 C.F.R. section 1.401(a)(9)–6 and Q&A–12(b)(2)(i) of 26 C.F.R. section 1.408–8 to increase the dollar limitation on premiums for qualifying longevity annuity contracts from $125,000 to $200,000, and to make such corresponding changes to the regulations and related forms as necessary to reflect this increase in the dollar limitation. (B) The Secretary shall amend Q&A–17(d)(2)(i) of 26 C.F.R. section 1.401(a)(9)–6 to provide that, in the case of calendar years beginning on or after January 1 of the second year following the year of enactment of this Act, the $200,000 dollar limitation (as increased by subparagraph (A)) will be adjusted at the same time and in the same manner as the limits are adjusted under section 415(d) of the Internal Revenue Code of 1986, except that the base period shall be the calendar quarter beginning July 1 of the year of enactment of this Act, and any increase to such dollar limitation that is not a multiple of $10,000 will be rounded to the next lowest multiple of $10,000. (3) Facilitate joint and survivor benefits The Secretary shall amend Q&A–17(c) of 26 C.F.R. section 1.401(a)(9)–6, and make such corresponding changes to the regulations and related forms as necessary, to provide that in the case of a qualifying longevity annuity contract that was purchased with joint and survivor annuity benefits for the individual and his or her spouse that were permissible under the regulations at the time the contract was originally purchased, a divorce occurring after the original purchase and before the annuity payments commence under the contract will not affect the permissibility of the joint and survivor annuity benefits or