1 There are no fees or charges to initiate or stop this income option. However, it’s important to note that your annuity’s balance will be reduced by the income payments you receive, independent of the annuity’s performance. Income Test Drive income payments are based upon the annuitization of the amount in the account, period (minimum of 10 years), and other factors chosen by the participant. If you do not stop the Income Test Drive within the 2 year test period, the remaining balance in the account you selected for the Income Text Drive Feature will be annuitized in accordance with the selections you made for the Income Test Drive. Annuitization is irrevocable. Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance.
2 The income payments from the variable annuity accounts vary with current market conditions and are not guaranteed. They will rise or fall based on investment performance. There are risks associated with investing in securities including possible loss of principal. Past performance does not guarantee future results.
Income and withdrawal options are subject to the terms of the employer plan. Withdrawals prior to age 59½ may be subject to a 10% federal tax penalty, in addition to ordinary income tax.
There are no fees or charges to initiate this feature. However, it’s important to note that your annuity’s balance will be reduced by the income payments you receive, independent of the annuity’s performance.
This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circumstances of any particular investor or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.