Receive guaranteed income for life
When you’re ready to start receiving rider income payments, you can select from two different income options. Both options provide a guaranteed stream of income for life. Income payments may begin at any time, as long as you meet the age requirements.
Single lifetime income
MAXIMUM INCOME PERCENTAGE TABLE
This option guarantees income payments for your lifetime. You must be at least age 55 when income payments begin. Joint lifetime income Income payments are guaranteed for the joint lifetimes of you and your spouse, or legally recognized domestic partner. You both must be at least age 55 on the income start date, and the younger age will be used to determine the income percentage. Calculating your income payment To determine the maximum amount of your annual income payments, we multiply your benefit base by your income percentage. The income percentage is based on age and the income options that you select. The income percentage is locked in once payments begin. Your income percentage increases 0.10% each year you wait to start payments until it reaches 7.5% for single lifetime income and 6.5% for joint lifetime income.
Age at income start date
Single lifetime income
Joint lifetime income
55 60 65 66 67 68 69 70 71 72 73 74 75 80 85
4.0% 3.0% 4.5% 3.5% 5.0% 4.0% 5.1% 4.1% 5.2% 4.2% 5.3% 4.3% 5.4% 4.4% 5.5% 4.5% 5.6% 4.6% 5.7% 4.7% 5.8% 4.8% 5.9% 4.9% 6.0% 5.0% 6.5% 5.5% 7.0% 6.0%
90+ 7.5% 6.5% If joint lifetime, use the age of the younger spouse (or domestic partner).
You may forgo a rider income payment in any year, but that income payment may not be carried over to the next year. The total income amount that can be taken in a year will never be less than any applicable required minimum distribution.
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