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Entry | Description |
---|---|
Benefit Base | The value used to calculate the client's guaranteed lifetime income amount will be a percentage of the benefit base. The benefit base will generally increase by a fixed rollup rate or a step up to the client's account value. In projections, RightCapital will automatically step up the benefit base each year, if applicable, in addition to the rollup specified. |
Rollup rate | The rate at the benefit base is guaranteed to increase yearly. |
Rollup rate compounding | If checked, the benefit base will increase by a compounding rollup rate; if unchecked, it will increase by a simple interest rate. |
Rollup stop year | The year the benefit base stops increasing automatically by the rollup rate. RightCapital will also stop the rollup rate in the Income starts year, if earlier. |
Income starts | The year that guaranteed lifetime income withdrawals from the annuity begins. |
Income type: Percentage | This reflects that the income amount will be calculated as a portion of the accumulated benefit base. |
Income type: Amount | This reflects that the income amount will be the specific amount entered. The benefit base and associated parameters are ignored if the amount is applied. |
Annual Increase | This field indicates whether, and if so, by how much, the income amount increases each year after lifetime income begins. This can be used to reflect a COLA option or any guaranteed increase. |
AV based fee | Illustrate any annuity fee calculated based on the client's account value (AV). |
Benefit base fee | Illustrate any annuity fee calculated based on the client's benefit base. |
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