| Pre-Effective Amendment No. | [ ] | |
| Post-Effective Amendment No. 2 | [X] |
| Amendment No. 160 (File No. 811-07355) | [X] |
| [ ] | immediately upon filing pursuant to paragraph (b) of Rule 485 |
| [X] | on May 1, 2021 pursuant to paragraph (b) of Rule 485 |
| [ ] | 60 days after filing pursuant to paragraph (a)(1) of Rule 485 |
| [ ] | on [date] pursuant to paragraph (a)(1) of Rule 485 |
| [ ] | This post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
| Issued by: | RiverSource Life Insurance Company (RiverSource Life) |
| 70100
Ameriprise Financial Center Minneapolis, MN 55474 Telephone: 1-800-862-7919 (Service Center) ameriprise.com/variableannuities RiverSource Variable Account 10 |
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| FEES AND EXPENSES | Location in Statutory Prospectus | |||
| Charges for Early Withdrawals | If
you withdraw money during the first 7 contract years, you may be assessed a surrender charge of up to 7% of the purchase payments withdrawn. For example, if you make an early withdrawal, you could pay a surrender charge of up to $7,000 on a $100,000 investment. |
Fee
Table and Examples Charges– Surrender Charge | ||
| Transaction Charges | We do not assess any transaction charges. | |||
| Ongoing Fees and Expenses (annual charges) | The table below describes the current fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. | Fee
Table and Examples Expenses – Product Charges Appendix A: Funds Available Under the Contract | ||
| Annual Fee | Minimum | Maximum | ||
| Base Contract(1)(varies by Contract duration and size of Contract value) | 1.22% | 1.22% | ||
| Fund
options (Funds fees and expenses)(2) |
0.38% | 2.21% | ||
| Optional
benefits available for an additional charge (for a single optional benefit, if elected)(3) |
0.10% | 2.00% | ||
| (1)
As a percentage of average daily contract value in the Variable Account. Includes the Mortality and Expense Fee and contract administrative charge. (2) As a percentage of Fund net assets. (3) As a percentage of Contract Value or the greater of Contract Value or applicable guaranteed benefit amount (varies by optional benefit). The Minimum is a percentage of average daily contract value in the Variable Account. The Maximum is a percentage of the greater of Contract Value or Minimum Contract Accumulation Value. Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add surrender charges that substantially increase costs. | ||||
| Lowest
Annual Cost: $1,418 |
Highest
Annual Cost: $3,977 | |||
| Assumes:
• Investment of $100,000• 5% annual appreciation• Least expensive combination of Contract features and Fund fees and expenses• No optional benefits• No sales charge• No additional purchase payments, transfers or withdrawals |
Assumes:
• Investment of $100,000• 5% annual appreciation• Most expensive combination of Contract features, optional benefits and Fund fees and expenses• No additional purchase payments, transfers or withdrawals• No sales charge | |||
| RISKS | ||||
| Risk of Loss | You can lose money by investing in this Contract including loss of principal. | Principal Risks | ||
| RISKS | Location
in Statutory Prospectus | |||
| Not a Short-Term Investment | • The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash.• The Contract has surrender charges that may apply for the first seven years. The surrender charges may reduce the value of your Contract if you withdraw money during the surrender charge period. Surrenders may also reduce or terminate Contract guarantees.• The benefits of tax deferral, long-term income, and optional living benefit guarantees mean the Contract is generally more beneficial to investors with a long term investment horizon. | Principal
Risks Charges– Surrender Charge | ||
| Risks Associated with Investment Options | • An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options available under the Contract.• Each investment option, including the Fixed Account has its own unique risks.• You should review the investment options before making any investment decisions. | Principal
Risks The Variable Account and the Funds The Fixed Account | ||
| Insurance Company Risks | An investment in the Contract is subject to the risks related to us. Any obligations (including under the Fixed Account) or guarantees and benefits of the Contract that exceed the assets of the Variable Account are subject to our claims-paying ability. If we experience financial distress, we may not be able to meet our obligations to you. More information about RiverSource Life, including our financial strength ratings, is available by contacting us at 1-800-862-7919. | Principal
Risks The General Account | ||
| RESTRICTIONS | ||||
| Investments | • Subject to certain restrictions, you may transfer your Contract value among the subaccounts without charge at any time before the annuitization start date, and once per contract year after the annuitization start date.• We reserve the right to modify, restrict or suspend your transfer privileges if we determine that your transfer activity constitutes market timing.• We reserve the right to add, remove or substitute Funds. We also reserve the right, upon notification to you, to close or restrict any Funds. | Making
the Most of Your Contract – Transferring Among Accounts Substitution of Investments Optional Benefits — Investment Allocation Restrictions for Certain Benefit Riders | ||
| RESTRICTIONS | Location
in Statutory Prospectus | |||
| Optional Benefits | • Certain optional benefits limit or restrict the investment options you may select under the Contract. If you later decide you do not want to invest in those approved investment options, you must request a full surrender.• Certain optional benefits may limit subsequent purchase payments.• Withdrawals in excess of the amount allowed under certain optional benefits may substantially reduce the benefit or even terminate the benefit. | Buying
Your Contract —Purchase Payments Optional Benefits — Investment Allocation Restrictions for Certain Benefit Riders Optional Benefits – Important SecureSource Series Rider Considerations Appendix B: Funds Available Under the Optional Benefits Offered Under the Contract | ||
| TAXES | ||||
| Tax Implications | • Consult with a tax advisor to determine the tax implications of an investment in the Contract.• If you purchase the Contract through a tax-qualified plan or individual retirement account, you do not get any additional tax benefit.• Earnings under your Contract are taxed at ordinary income tax rates generally when withdrawn. You may have to pay a tax penalty if you take a withdrawal before age 59½. | Taxes | ||
| CONFLICTS OF INTEREST | ||||
| Investment Professional Compensation | Your investment professional may receive compensation for selling this Contract to you, in the form of commissions, additional cash benefits (e.g., bonuses), and non-cash compensation. This financial incentive may influence your investment professional to recommend this Contract over another investment for which the investment professional is not compensated or compensated less. | About the Service Providers | ||
| Exchanges | If you already own an annuity or insurance Contract, some investment professionals may have a financial incentive to offer you a new Contract in place of the one you own. You should only exchange a Contract you already own if you determine, after comparing the features, fees, and risks of both Contracts, that it is better for you to purchase the new Contract rather than continue to own your existing Contract. | Buying Your Contract – Contract Exchanges | ||
| • | Dollar Cost Averaging Programs. Automated Dollar Cost Averaging allows you, at no additional cost, to transfer a set amount monthly between subaccounts. Special Dollar Cost Averaging (SDCA), only available for new purchase payments, allows the systematic transfer from the Special DCA fixed account to one or more eligible subaccounts over a 6 or 12 month period. |
| • | Asset Rebalancing. Allows you, at no additional cost, to automatically rebalance the subaccount portion of your contract value on a periodic basis. |
| • | Income Guide. An optional service, currently offered without charge, which provides reporting and monitoring of withdrawals you take from your contract. |
| • | Automated Partial Surrenders. An optional service allowing you to set up automated partial surrenders from the Special DCA fixed account or the subaccounts. |
| • | Electronic Delivery. You may register for the electronic delivery of your current prospectus and other documents related to your contract. |
| Surrender charges (as a percentage of purchase payments surrendered) |
| Maximum 7% |
| Contract Year* | Surrender
charge percentage applied to purchase payments |
| 1 | 7% |
| 2 | 7 |
| 3 | 7 |
| 4 | 6 |
| 5 | 5 |
| 6 | 4 |
| 7 | 2 |
| 8+ | 0 |
| * | According to our current administrative practice, for the purpose of surrender charge calculation, we consider that the year is completed one day prior to the contract anniversary. |
| Annual contract administrative charge* | Maximum: $50 | Current: $50 (1) |
| Annual contract administrative charge if your contract value equals or exceeds $50,000 | Maximum: $20 | Current: $0 |
| Standard Death Benefit | Maximum/Current: 1.20%* |
| ROPP Death Benefit | Maximum/Current: 0.35% |
| MAV Death Benefit | Maximum/Current: 0.25% |
| 5-year MAV Death Benefit | Maximum/Current: 0.10% |
| Benefit
Protector Death Benefit rider fee (also available with the MAV or 5-Year MAV Death Benefit) |
Maximum: 0.25% | Current: 0.25% |
| Enhanced LegacySM Benefit fee | Maximum: 1.75% | Current: 0.95%(2) |
| SecureSource
LegacySM benefit rider fee (available for contract applications signed on or after 5/4/2020) |
Maximum: 0.50% | Current: 0.35%(2) |
| SecureSource
LegacySM benefit rider fee (available for contract applications signed prior to 5/4/2020) |
Maximum: 0.40% | Current: 0.25%(2) |
| Available for contract applications signed on or after 5/3/2021 | |
| SecureSource Tempo SM– Single life rider fee | Maximum: 2.50% |
| SecureSource Tempo SM – Joint life rider fee | Maximum: 2.50% |
| Available for contract applications signed on or after 5/3/2021 but prior to 1/1/2022 | |
| SecureSource Core 2 SM – Single life rider fee | Maximum: 2.50% |
| SecureSource Core 2 SM – Joint life rider fee | Maximum: 2.50% |
| SecureSource 5®– Single life rider fee | Maximum: 2.50% |
| SecureSource 5 ® – Joint life rider fee | Maximum: 2.50% |
| SecureSource 5 Plus ® – Single life rider fee | Maximum: 2.50% |
| SecureSource 5 Plus ® – Joint life rider fee | Maximum: 2.50% |
| Available for contract applications signed prior to 5/3/2021 | |
| SecureSource Core SM – Single life rider fee | Maximum: 2.25% |
| SecureSource Core SM – Joint life rider fee | Maximum: 2.25% |
| SecureSource 4®– Single life rider fee | Maximum: 2.25% |
| SecureSource 4 ® – Joint life rider fee | Maximum: 2.25% |
| SecureSource 4 Plus ® – Single life rider fee | Maximum: 2.25% |
| SecureSource 4 Plus ® – Joint life rider fee | Maximum: 2.25% |
| Available for contract applications signed prior to 3/30/2020 | |
| SecureSource Core Plus SM – Single life rider fee | Maximum: 2.75% |
| SecureSource Core Plus SM – Joint life rider fee | Maximum: 2.75% |
| Accumulation Protector Benefit® (APB®) rider fee(available for contract applications signed prior to 3/30/20) | Maximum: 2.00% | Current: 1.30%(4) |
| (1) | For contracts with applications signed before 5/4/2020, the contract administrative charge is $30. |
| (2) | The Current fee can increase up to the Maximum fee for existing and new contract owners. Currently the fee does not vary with the investment option selected (see “Enhanced Legacy and SecureSource Legacy Benefit Rider Charge”). |
| (3) | The Current rider fee will be less than or equal to the stated Maximum. The Current rider fee is disclosed in a Rate Sheet Prospectus Supplement attached to this prospectus. Rate Sheet Prospectus Supplement is available on the Edgar system at (File 333 -).www.sec.gov |
| (4) | For contracts with applications signed prior to 10/28/2019, the initial annual rider fee is 1.15%. The rider fee can increase up to the Maximum fee. The annual rider fees for elective step ups (including elective spousal continuation step up) requests: |
| Elective step up date: | Maximum annual rider fee | Annual rider fee |
| Prior to 12/30/2019 | 2.00% | 1.15% |
| 12/30/ 2019 – 07/20/2020 | 2.00% | 1.30% |
| 07/21/2020 and later | 2.00% | 2.00% |
| Total Annual Fund Expenses | Minimum(%) | Maximum(%) |
| (expenses deducted from the Fund assets, including management fees, distribution and/or service (12b-1) fees and other expenses) | 0.38 | 2.21 |
| (1) | Total annual Fund operating expenses are deducted from amounts that are allocated to the Fund. They include management fees and other expenses and may include distribution (12b-1) fees. Other expenses may include service fees that may be used to compensate service providers, including us and our affiliates, for administrative and contractowner services provided on behalf of the Fund. The amount of these payments will vary by Fund and may be significant. See “The Variable Account and the Funds” for additional information, including potential conflicts of interest these payments may create. Distribution (12b-1) fees are used to finance any activity that is primarily intended to result in the sale of Fund shares. Because 12b-1 fees are paid out of Fund assets on an ongoing basis, you may pay more if you select Subaccounts investing in Funds that have adopted 12b-1 plans than if you select Subaccounts investing in Funds that have not adopted 12b-1 plans. For a more complete description of each Fund’s fees and expenses and important disclosure regarding payments the Fund and/or its affiliates make, please review the Fund’s prospectus and SAI. |
| If
you surrender your contract at the end of the applicable time period: |
If
you do not surrender your contract or if you select an annuity payout plan at the end of the applicable time period: | ||||||
| 1 year | 3 years | 5 years | 10 years | 1 year | 3 years | 5 years | 10 years |
| $11,999 | $22,926 | $33,604 | $63,493 | $5,649 | $17,467 | $29,939 | $63,443 |
| If
you surrender your contract at the end of the applicable time period: |
If
you do not surrender your contract or if you select an annuity payout plan at the end of the applicable time period: | ||||||
| 1 year | 3 years | 5 years | 10 years | 1 year | 3 years | 5 years | 10 years |
| $8,203 | $11,060 | $12,714 | $18,599 | $1,620 | $5,025 | $8,664 | $18,549 |
| • | the corruption or destruction of data; |
| • | theft, misuse or dissemination of data to the public, including your information we hold; and |
| • | denial of service attacks on our website or other forms of attacks on our systems and the software and hardware we use to run them. |
| • | Fund name and management: An underlying Fund in which a Subaccount invests may have a name, portfolio manager, objectives, strategies and characteristics that are the same or substantially similar to those of a publicly-traded retail mutual fund. Despite these similarities, an underlying fund is not the same as any publicly-traded retail mutual fund. Each underlying fund will have its own unique portfolio holdings, fees, operating expenses and operating results. The results of each underlying fund may differ significantly from any publicly-traded retail mutual fund. |
| • | Eligible purchasers: All Funds are available to serve as underlying funds for variable annuities and variable life insurance policies. The Funds are not available to the public (see “Fund name and management” above). Some Funds also are available to serve as investment options for tax-deferred retirement plans. It is possible that in the |
| future for tax, regulatory or other reasons, it may be disadvantageous for variable annuity accounts and variable life insurance accounts and/or tax-deferred retirement plans to invest in the available funds simultaneously. Although we and the Funds’ providers do not currently foresee any such disadvantages, the boards of directors or trustees of each Fund will monitor events in order to identify any material conflicts between annuity owners, policy owners and tax-deferred retirement plans and to determine what action, if any, should be taken in response to a conflict. If a board were to conclude that it should establish separate Fund providers for the variable annuity, variable life insurance and tax-deferred retirement plan accounts, you would not bear any expenses associated with establishing separate Funds. Please refer to the Funds’ prospectuses for risk disclosure regarding simultaneous investments by variable annuity, variable life insurance and tax-deferred retirement plan accounts. Each Fund intends to comply with the diversification requirements under Section 817(h) of the Code. | |
| • | Asset allocation programs may impact Fund performance: Asset allocation programs in general may negatively impact the performance of an underlying fund. Even if you do not participate in an asset allocation program, a Fund in which your Subaccount invests may be impacted if it is included in an asset allocation program. Rebalancing or reallocation under the terms of the asset allocation program may cause a Fund to lose money if it must sell large amounts of securities to meet a redemption request. These losses can be greater if the Fund holds securities that are not as liquid as others; for example, various types of bonds, shares of smaller companies and securities of foreign issuers. A Fund may also experience higher expenses because it must sell or buy securities more frequently than it otherwise might in the absence of asset allocation program rebalancing or reallocations. Because asset allocation programs include periodic rebalancing and may also include reallocation, these effects may occur under the asset allocation program we offer or under asset allocation programs used in conjunction with the contracts and plans of other eligible purchasers of the Funds. |
| • | Funds available under the contract: We seek to provide a broad array of underlying funds taking into account the fees and charges imposed by each Fund and the contract charges we impose. We select the underlying funds in which the Subaccounts initially invest and when there is substitution (see “Substitution of Investments”). We also make all decisions regarding which Funds to retain in a contract, which Funds to add to a contract and which Funds will no longer be offered in a contract. In making these decisions, we may consider various objective and subjective factors. Objective factors include, but are not limited to Fund performance, Fund expenses, classes of Fund shares available, size of the Fund and investment objectives and investing style of the Fund. Subjective factors include, but are not limited to, investment sub-styles and process, management skill and history at other Funds and portfolio concentration and sector weightings. We also consider the levels and types of revenue, including but not limited to expense payments and non-cash compensation a Fund, its distributor, investment adviser, subadviser, transfer agent or their affiliates pay us and our affiliates. This revenue includes, but is not limited to compensation for administrative services provided with respect to the Fund and support of marketing and distribution expenses incurred with respect to the Fund. |
| • | Money Market fund yield: In low interest rate environments, money market fund yields may decrease to a level where the deduction of fees and charges associated with your contract could result in negative net performance, resulting in a corresponding decrease in your contract value. |
| • | Conflicts of Interest with Certain Funds Advised by Columbia Management. We are an affiliate of Ameriprise Financial, Inc., which is the parent company of Columbia Management Investment Advisers, LLC (Columbia Management). Columbia Management acts as investment adviser to several funds of funds, including Portfolio Navigator and Portfolio Stabilizer funds. As such, it retains full discretion over the investment activities and investment decisions of the Funds. These funds invest in other registered mutual funds. In providing investment advisory services for the funds and the underlying funds in which those funds respectively invest, Columbia Management is, together with its affiliates, including us, subject to competing interests that may influence its decisions. These competing interests typically arise because Columbia Management Investment Advisers or one of its affiliates serves as the investment adviser to the underlying funds and may provide other services in connection with such underlying funds, and because the compensation we and our affiliates receive for providing these investment advisory and other services varies depending on the underlying fund. |
| • | Revenue we receive from the Funds and potential conflicts of interest: |
| • | Compensating, training and educating financial advisors who sell the contracts. |
| • | Granting access to our employees whose job it is to promote sales of the contracts by authorized selling firms and their financial advisors, and granting access to financial advisors of our affiliated selling firms. |
| • | Activities or services we or our affiliates provide that assist in the promotion and distribution of the contracts including promoting the funds available under the contracts to contract owners, authorized selling firms and financial advisors. |
| • | Providing sub-transfer agency and shareholder servicing to contract owners. |
| • | Promoting, including and/or retaining the Fund’s investment portfolios as underlying Funds in the contracts. |
| • | Advertising, printing and mailing sales literature, and printing and distributing prospectuses and reports. |
| • | Furnishing personal services to contract owners, including education of contract owners regarding the Funds, answering routine inquiries regarding a Fund, maintaining accounts or providing such other services eligible for service fees as defined under the rules of the Financial Industry Regulatory Authority (FINRA). |
| • | Subaccounting services, transaction processing, recordkeeping and administration. |
| • | Sources of revenue received from affiliated funds: The affiliated funds are managed by Columbia Management or Columbia Wanger. The sources of revenue we receive from these affiliated funds, or from the funds’ affiliates, may include, but are not necessarily limited to, the following: |
| • | Assets of the Fund’s adviser, sub-adviser, transfer agent, distributor or an affiliate of these. The revenue resulting from these sources may be based either on a percentage of average daily net assets of the Fund or on the actual cost of certain services we provide with respect to the Fund. We may receive this revenue either in the form of a cash payment or it may be allocated to us. |
| • | Compensation paid out of 12b-1 fees that are deducted from Fund assets. |
| • | Sources of revenue received from unaffiliated funds: The unaffiliated funds are not managed by an affiliate of ours. The sources of revenue we receive from these unaffiliated funds, or the funds’ affiliates, may include, but are not necessarily limited to, the following: |
| • | Assets of the Fund’s adviser, sub-adviser, transfer agent, distributor or an affiliate of these. The revenue resulting from these sources may be based either on a percentage of average daily net assets of the Fund or on the actual cost of certain services we provide with respect to the Fund. We receive this revenue in the form of a cash payment. |
| • | Compensation paid out of 12b-1 fees that are deducted from Fund assets. |
| • | the Special DCA fixed account for a six month term; |
| • | the Special DCA fixed account for a twelve month term; |
| • | the approved investment options for the Enhanced Legacy Benefit, the SecureSource Legacy benefit rider, one of the SecureSource series riders and APB riders; |
| • | to the subaccounts, unless you have elected one of the optional living benefit riders, the Enhanced Legacy Benefit or SecureSource Legacy benefit rider. |
| By
spreading the investment over the term of the Special DCA |
Date | SDCA
Balance |
Portion
Transferred |
Amount
Transferred |
Accumulation
unit value |
Number
of units purchased | |
| you
automatically buy more units when the per unit market price is low |
Jan 15th | $5,000.00 | |||||
| Jan 16th | 5,000.14 | 1/6 | $833.36 | $18 | 46.30 | ||
| → | Feb 16th | 4,170.30 | 1/5 | 834.06 | 15 | 55.60 | |
| and
fewer units when the per unit market price is high. |
Mar 16th | 3,338.79 | 1/4 | 834.70 | 19 | 43.93 | |
| April 16th | 2,506.20 | 1/3 | 835.40 | 17 | 49.14 | ||
| → | May 16th | 1,672.17 | 1/2 | 836.09 | 21 | 39.81 | |
| Jun 16th | 836.79 | 1/1 | 836.79 | 20 | 41.84 |
| • | subaccounts and/or the Special DCA fixed account in which you want to invest; |
| • | how you want to make purchase payments; |
| • | a beneficiary; |
| • | one of the following optional death benefit riders: |
| – | ROPP Death Benefit (available if you are age 80 or older); |
| – | MAV Death Benefit; or |
| – | 5-Year MAV Death Benefit. |
| • | one of the following additional optional death benefit riders: |
| – | Benefit Protector Death Benefit; or |
| – | Enhanced Legacy Benefit; or |
| – | SecureSource Legacy Benefit. |
| • | one of the following optional living benefit riders: |
| For contracts with applications signed on or after 5/3/2021: |
| – | SecureSource Tempo |
| – | SecureSource Core 2; |
| – | SecureSource 5; or |
| – | SecureSource 5 Plus. |
| – | SecureSource Core; |
| – | SecureSource 4; or |
| – | SecureSource 4 Plus. |
| – | SecureSource Core Plus; or |
| – | Accumulation Protector Benefit. |
| Qualified annuities | $1,000 |
| Nonqualified annuities | $2,000 |
| through age 85 | $1,000,000 |
| for ages 86 to 90 | $100,000 |
| age 91 or older | $0 |
| through age 85 | $100,000 |
| for ages 86 to 90 | $50,000 |
| age 91 or older | $0 |
| * | If a group billing arrangement is set up through your employer, the minimum initial and minimum additional purchase payment is $25. |
| ** | These limits apply in total to all RiverSource Life annuities you own unless a higher amount applies to your contract. We reserve the right to waive or increase the maximum limit. For qualified annuities, the Code’s limits on annual contributions also apply. Additional purchase payments for inherited IRA contracts cannot be made unless the payment is IRA money inherited from the same decedent. |
| (1) | you decline any increase to the annual rider fee, or |
| (2) | for the SecureSource Tempo, SecureSource 5, SecureSource 5 Plus, SecureSource 4 and SecureSource 4 Plus, the Current Annual Payment is established and your contract value on an anniversary is less than four times the Benefit Base multiplied by the Minimum Lifetime Payment Percentage for your current Age Band, or |
| (3) | for the SecureSource Core 2, SecureSource Core and SecureSource Core Plus, the Current Annual Payment is established and your contract value on an anniversary is less than four times the Current Annual Payment. |
| • | no earlier than the 30th day after the contract’s effective date; and no later than |
| • | the owner’s 95th birthday or the tenth contract anniversary, if later, |
| • | or such other date as agreed to by us. |
| • | 10% of the contract value on the prior contract anniversary, less any prior surrenders taken in the current contract year; or |
| • | current contract earnings. |
| • | 10% of all purchase payments applied prior to your surrender request, less any amounts surrendered prior to your surrender request that represent the FA; or |
| • | current contract earnings. |
| • | 10% of the contract value on the prior contract anniversary less any prior surrenders taken in the current contract year; |
| • | current contract earnings; or |
| • | the Remaining Annual Payment. |
| • | 10% of all purchase payments applied prior to your surrender request, less any amounts surrendered prior to your surrender request that represent the FA; |
| • | current contract earnings; or |
| • | the Remaining Annual Payment. |
| 1. | First we surrender the FA. Contract earnings are surrendered first, followed by purchase payments. We do not assess a surrender charge on the FA. |
| 2. | Next, if necessary, we surrender purchase payments. We do assess a surrender charge on these payments during the first seven contract years. |
| Contract Year* | Surrender
charge percentage applied to purchase payments |
| 1 | 7% |
| 2 | 7 |
| 3 | 7 |
| 4 | 6 |
| 5 | 5 |
| 6 | 4 |
| 7 | 2 |
| 8+ | 0 |
| * | According to our current administrative practice, for the purpose of surrender charge calculation, we consider that the year is completed one day prior to the contract anniversary. |
| Number of Completed Years Since Annuitization | Surrender charge percentage |
| 0 | Not applicable* |
| 1 | 5% |
| 2 | 4 |
| 3 | 3 |
| 4 | 2 |
| 5 | 1 |
| 6 and thereafter | 0 |
| • | surrenders each year that represent the total free amount for that year; |
| • | required minimum distributions from a qualified annuity to the extent that they exceed the free amount. The amount on which surrender charges are waived can be no greater than the RMD amount calculated under your specific contract currently in force. Surrender charges for an inherited IRA are only waived for life time RMD amounts, not for a 5 year distribution; |
| • | amounts applied to an annuity payment plan (Exception: As described below, if we agree to allow you to elect annuity payments under a term certain installment plan and you choose later to surrender the value of your remaining annuity payments, we will assess a surrender charge.); |
| • | surrenders made as a result of one of the "Contingent events" described below to the extent permitted by state law. Waiver of surrender charges for Contingent events will not apply to Tax Free Exchanges, rollovers and transfers to another annuity contract; |
| • | amounts we refund to you during the free look period; and |
| • | death benefits. |
| • | Surrenders you make if you are confined to a hospital or nursing home and have been for the prior 60 days or confinement began within 30 days following a 60 day confinement period. Such confinement must begin after the contract issue date. Your contract will include this provision when you are under age 76 at contract issue. You must provide us with a letter containing proof satisfactory to us of the confinement as of the date you request the surrender. We must receive your surrender request no later than 91 days after your release from the hospital or nursing home. The amount surrendered must be paid directly to you. |
| • | Surrenders you make if you are diagnosed in the second or later contract years with a medical condition that with reasonable medical certainty will result in death within 12 months or less from the date of the diagnosis. You must provide us with a licensed physician's statement containing the terminal illness diagnosis, the expected date of death and the date the terminal illness was initially diagnosed. The amount surrendered must be paid directly to you. |
| Standard Death Benefit | Maximum/Current: 1.20%* |
| ROPP Death Benefit | Maximum/Current: 0.35% |
| MAV Death Benefit | Maximum/Current: 0.25% |
| 5-year MAV Death Benefit | Maximum/Current: 0.10% |
| • | first, to the extent possible, the subaccounts pay this fee from any dividends distributed from the funds in which they invest; |
| • | then, if necessary, the funds redeem shares to cover any remaining fees payable. |
| SecureSource
series rider (Available for contract applications signed on or after 5/3/2021) |
Guaranteed Maximum Fee | |
| Single Life rider | Joint Life Rider | |
| SecureSource Tempo | 2.50% | 2.50% |
| SecureSource
series rider (Available for contract applications signed on or after 5/3/2021 but prior to 1/1/2022 ) |
Single Life rider | Joint Life Rider |
| SecureSource Core 2 | 2.50% | 2.50% |
| SecureSource 5 | 2.50% | 2.50% |
| SecureSource 5 Plus | 2.50% | 2.50% |
| SecureSource
series rider (Available for contract applications signed prior to 5/3/2021) |
Single Life rider | Joint Life Rider |
| SecureSource Core | 2.25% | 2.25% |
| SecureSource 4 | 2.25% | 2.25% |
| SecureSource 4 Plus | 2.25% | 2.25% |
| SecureSource
series rider (Available for contract applications signed prior to 3/30/2020) |
Single Life rider | Joint Life Rider |
| SecureSource Core Plus | 2.75% | 2.75% |
| 1. | We may increase the annual rider fee for all approved investment options at our discretion and on a nondiscriminatory basis up to the maximum fee. Your annual rider fee will increase if we declare an increase to the fee with written notice 30 days in advance except as described below. The new fee will be in effect on the date we declare in the written notice. |
| (A) | You can decline this increase and therefore all future fee increases if we receive your written request prior to the date of the fee increase, in which case you permanently relinquish: |
| (i) | all future annual step-ups, and for the Joint Life rider, spousal continuation step-ups, |
| (ii) | any ability to make additional purchase payments, |
| (iii) | any future Annual Credits (Returns-linked Credits for SecureSource Tempo), and the Credit Base will be permanently set to zero, |
| (iv) | any increase to the Lifetime Payment Percentage due to changing age bands on subsequent birthdays and rider anniversaries, and |
| (v) | For SecureSource Core Plus rider only, any future Base Doubler adjustment and the Base Doubler will be permanently set to zero. |
| (B) | You can terminate this rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase and if we receive your written request to terminate the rider prior to the date of the fee increase. |
| 2. | The annual rider fee associated with a specified investment option may change at our discretion. If you are invested in any investment option that has an increase in the associated annual rider fee, your annual rider fee will increase. Currently the SecureSource series rider fee does not vary with the investment option selected. |
| 1. | We may change the annual rider fee for any approved investment options at our discretion and on a nondiscriminatory basis up to a maximum fee of 2.00%. Your annual rider fee will increase if we declare an increase to the fee with written notice 30 days in advance. The new fee will be in effect on the date we declare in the written notice. You can terminate this rider if you are invested in any investment option that has an increase and if we receive your written request to terminate the rider prior to the date of the fee increase. However, in order to be eligible for termination you must be invested in that investment option on the eligibility date we specify in the written notice. Currently the Accumulation Protector Benefit rider fee does not vary with the investment option selected |
| 2. | We may also change the annual rider fee(s) if you exercise the elective step-up option or elective spousal continuation step up. You do not have the option to terminate the rider if the fee increases due to an elective step-up. |
| Elective step up date: | Maximum annual rider fee | Annual rider fee |
| Prior to 12/30/2019 | 2.00% | 1.15% |
| 12/30/ 2019 – 07/20/2020 | 2.00% | 1.30% |
| 07/21/2020 and later | 2.00% | 2.00% |
| 1. | We may increase the annual rider fee for all approved investment options at our discretion and on a nondiscriminatory basis. Your annual rider fee will increase if we declare an increase to the fee with written notice 30 days in advance. The new fee will be in effect on the date we declare in the written notice. You can terminate this rider if we receive your written request prior to the date of the fee increase. Currently the Enhanced Legacy Benefit fee does not vary with the investment option selected. |
| 2. | The annual rider fee associated with a specified investment option may change at our discretion. If you are invested in any investment option that has an increase in the associated annual rider fee, your annual rider fee will increase. If you change your investment allocation to an investment option not affected by a fee increase, this move will count against the number of transfers allowed. We do not currently limit the number of transfers allowed each contract year. |
| • | the sum of your purchase payments allocated to the Special DCA fixed account; |
| • | plus interest credited; |
| • | minus the sum of amounts surrendered (including any applicable surrender charges) and amounts transferred out; |
| • | minus any prorated portion of the contract administrative charge; and |
| • | minus any prorated portion of the charge for any of the following optional benefits you have selected: |
| – | Benefit Protector Death Benefit; |
| – | Enhanced Legacy Benefit; |
| – | SecureSource Legacy benefit rider; |
| – | SecureSource series rider; or |
| – | Accumulation Protector Benefit rider. |
| • | adding the fund’s current net asset value per share, plus the per share amount of any accrued income or capital gain dividends to obtain a current adjusted net asset value per share; then |
| • | dividing that sum by the previous adjusted net asset value per share; and |
| • | subtracting the percentage factor representing the mortality and expense risk fee from the result. |
| • | additional purchase payments you allocate to the subaccounts; |
| • | transfers into or out of the subaccounts; |
| • | partial surrenders; |
| • | surrender charges; |
| • | the contract administrative charge; and |
| • | the charge for any of the following optional benefits you have selected: |
| – | Benefit Protector Death Benefit; |
| – | Enhanced Legacy Benefit; |
| – | SecureSource Legacy benefit rider; |
| – | SecureSource series rider; or |
| – | Accumulation Protector Benefit rider. |
| • | changes in fund net asset value; |
| • | fund dividends distributed to the subaccounts; |
| • | fund capital gains or losses; |
| • | fund operating expenses; and/or |
| • | mortality and expense risk fees. |
| By
investing an equal number of dollars each month |
Month | Amount
invested |
Accumulation
unit value |
Number
of units purchased | |
| Jan | $100 | $20 | 5.00 | ||
| Feb | 100 | 18 | 5.56 | ||
| you
automatically buy more units when the per unit market price is low |
Mar | 100 | 17 | 5.88 | |
| → | Apr | 100 | 15 | 6.67 | |
| May | 100 | 16 | 6.25 | ||
| June | 100 | 18 | 5.56 | ||
| July | 100 | 17 | 5.88 | ||
| and
fewer units when the per unit market price is high. |
Aug | 100 | 19 | 5.26 | |
| → | Sept | 100 | 21 | 4.76 | |
| Oct | 100 | 20 | 5.00 |
| (1) | the age of the participant, (the age of the younger participant under the Joint Option); |
| (2) | the contract value; |
| (3) | Prudent Income Percentages. |
| (1) | One of the Income Guide participants must be an owner or annuitant under the contract. |
| (2) | Your contract cannot be a beneficially owned IRA. |
| (3) | You cannot be withdrawing substantially equal periodic payments as defined in the Internal Revenue Code. These payments are calculated in part using your life expectancy and place limits on the ability to increase withdrawals beyond a certain amount without incurring tax consequences. |
| (4) | If you have a systematic withdrawal program established, you may not elect to set your withdrawal amount net of surrender charges and the frequency of withdrawal must be set at monthly. You cannot have more than one systematic withdrawal program established at the same time. |
| (5) | Your contract cannot have any active or deemed loans on it. |
| (6) | Your contract must have an Ameriprise advisor registered with AFS assigned as the agent of record on your contract. |
| (7) | All participants covered by the program must be at least age 50 and no older than age 85. |
| (1) | You modify your systematic withdrawal program to a frequency other than monthly or you have more than one systematic withdrawal program in effect. |
| (2) | You take a loan on the contract. |
| (3) | On any contract anniversary where the participant (for joint, youngest participant) attained the maximum age of 95 in the preceding contract year. |
| (4) | The death benefit under the contract becomes payable. |
| (5) | You elect a systematic withdrawal program to take substantially equal periodic payments as defined in the Internal Revenue Code. These payments are calculated in part using your life expectancy and place limits on the ability to increase withdrawals beyond a certain amount without incurring tax consequences. |
| (6) | AFS is no longer the servicing broker-dealer on your contract. |
| (7) | Your contract terminates for any reason, including full surrender, the contract value reaches zero, or when you annuitize your entire contract (this does not apply to partial annuitizations which are permitted while you participate in Income Guide). |
| Income Guide Status Definitions | |||
| Attention Needed | Caution | On Track | More Available |
| Prudent Income Amount is more than 20% below your current annual withdrawal amount | Prudent Income Amount is from 10.1% to 20% below your current annual withdrawal amount | Prudent Income Amount is from 10% below up to 24.9% above your current annual withdrawal amount | Prudent Income Amount is more than 25% or more above your current annual withdrawal amount |
| Income Guide Status | What the Status Means |
| Attention Needed | Based on your contract value, it is projected that your withdrawal amount may not be sustainable. |
| Caution | Based on your contract value, it is projected that your withdrawal amount is near a point where it may not be sustainable. |
| On Track | Based on your contract value, it is projected that your withdrawal amount is currently sustainable. Please note that the minimum 85% probability assumed in the program only applies to the Prudent Income Amount and not to the “On Track” status which includes a range above and below the current Prudent Income Amount. |
| More Available | Based on your contract value and withdrawal amount, it is projected there are more options available. |
| • | an investment allocation of 50% in equities and 50% in fixed income instruments (e.g.bonds); |
| • | average annual returns, after the deduction of all fund fees and expenses, of 9.0% on the equity allocation and 2.0% on the fixed income instruments (e.g.bonds) allocation that grades upward to 4.0% over a twenty year period; |
| • | average portfolio volatility of 9.0%; |
| • | a 1.0% average annual mortality and expense risk fee being assessed; and |
| • | taking level withdrawals each month. |
| (1) | the fees, average annual total returns and volatility of the underlying funds you have elected; |
| (2) | the specific fees of your contract; |
| (3) | additional purchase payments to the contract; |
| (4) | withdrawals in addition to the monthly systematic withdrawal; |
| (5) | partial annuitizations; or |
| (6) | your actual life expectancy or retirement horizon. |
| Participant Age | Single Option | Joint Option | Participant Age | Single Option | Joint Option | Participant Age | Single Option | Joint Option |
| 50 | 3.0% | 2.5% | 66 | 4.6% | 4.1% | 81 | 6.3% | 5.8% |
| 51 | 3.1% | 2.6% | 67 | 4.7% | 4.2% | 82 | 6.6% | 6.1% |
| 52 | 3.2% | 2.7% | 68 | 4.8% | 4.3% | 83 | 6.9% | 6.4% |
| 53 | 3.3% | 2.8% | 69 | 4.9% | 4.4% | 84 | 7.2% | 6.7% |
| 54 | 3.4% | 2.9% | 70 | 5.0% | 4.5% | 85 | 7.5% | 7.0% |
| 55 | 3.5% | 3.0% | 71 | 5.1% | 4.6% | 86 | 8.0% | 7.5% |
| 56 | 3.6% | 3.1% | 72 | 5.2% | 4.7% | 87 | 8.5% | 8.0% |
| 57 | 3.7% | 3.2% | 73 | 5.3% | 4.8% | 88 | 9.0% | 8.5% |
| 58 | 3.8% | 3.3% | 74 | 5.4% | 4.9% | 89 | 9.5% | 9.0% |
| 59 | 3.9% | 3.4% | 75 | 5.5% | 5.0% | 90 | 10.0% | 9.5% |
| 60 | 4.0% | 3.5% | 76 | 5.6% | 5.1% | 91 | 10.5% | 10.0% |
| 61 | 4.1% | 3.6% | 77 | 5.7% | 5.2% | 92 | 11.0% | 10.5% |
| 62 | 4.2% | 3.7% | 78 | 5.8% | 5.3% | 93 | 11.5% | 11.0% |
| 63 | 4.3% | 3.8% | 79 | 5.9% | 5.4% | 94 | 12.0% | 11.5% |
| 64 | 4.4% | 3.9% | 80 | 6.0% | 5.5% | 95 | 12.5% | 12.0% |
| 65 | 4.5% | 4.0% |
| (1) | you have elected the Single Option; |
| (2) | you are age 65; |
| (3) | your monthly systematic withdrawal amount is $350.00 ($4,200.00 annually); and |
| (4) | your contract value is $100,000.00. |
| • | If we receive your transfer request at our Service Center in good order before the close of the NYSE (4:00 pm Eastern time unless the NYSE closes earlier), we will process your transfer using the accumulation unit value we calculate on the valuation date we received your transfer request. |
| • | If we receive your transfer request at our Service Center in good order at or after the close of the NYSE (4:00 pm Eastern time unless the NYSE closes earlier), we will process your transfer using the accumulation unit value we calculate on the next valuation date after we received your transfer request. |
| • | If we receive your transfer request at our Service Center in good order before the close of the NYSE (4:00 pm Eastern time unless the NYSE closes earlier), we will process your transfer using the accumulation unit value we calculate on the valuation date we received your transfer request. |
| • | If we receive your transfer request at our Service Center in good order at or after the close of the NYSE (4:00 pm Eastern time unless the NYSE closes earlier), we will process your transfer using the accumulation unit value we calculate on the next valuation date after we received your transfer request. |
| • | Before the annuitization start date, you may transfer contract values between the subaccounts at any time. |
| • | You may not transfer contract values from the subaccounts into the Special DCA fixed account. However, you may transfer contract values as automated monthly transfers from the Special DCA fixed account to the subaccounts, or for the SecureSource series riders, APB rider, Enhanced Legacy Benefit or SecureSource Legacy benefit rider, to the selected approved investment options. (See “Special DCA Fixed Account.”) |
| • | After the annuitization start date, you may make transfers once per contract year among the subaccounts. During the annuity payout period, we reserve the right to limit the number of subaccounts in which you may invest. On the annuitization start date, you must transfer all contract value out of your Special DCA fixed account. |
| • | diluting the value of an investment in an underlying fund in which a Subaccount invests; |
| • | increasing the transaction costs and expenses of an underlying fund in which a Subaccount invests; and |
| • | preventing the investment adviser(s) of an underlying fund in which a Subaccount invests from fully investing the assets of the Fund in accordance with the Fund’s investment objectives. |
| • | requiring transfer requests to be submitted only by first-class U.S. mail; |
| • | not accepting hand-delivered transfer requests or requests made by overnight mail; |
| • | not accepting telephone or electronic transfer requests; |
| • | requiring a minimum time period between each transfer; |
| • | not accepting transfer requests of an agent acting under power of attorney; |
| • | limiting the dollar amount that you may transfer at any one time; |
| • | suspending the transfer privilege; or |
| • | modifying instructions under an automated transfer program to exclude a restricted fund if you do not provide new instructions. |
| • | Each Fund may restrict or refuse trading activity that the Fund determines, in its sole discretion, represents market timing. |
| • | Even if we determine that your transfer activity does not constitute market timing under the market timing policies described above which we apply to transfers you make under the contract, it is possible that the underlying fund’s market timing policies and procedures, including instructions we receive from a Fund, may require us to reject your transfer request. For example, we will attempt to execute transfers permitted under any asset allocation, dollar-cost averaging and asset rebalancing programs that may be described in this prospectus, we cannot guarantee that an underlying fund’s market timing policies and procedures will do so. Orders we place to purchase Fund shares for the Variable Accounts are subject to acceptance by the Fund. We reserve the right to reject without prior notice to you any transfer request if the Fund does not accept our order. |
| • | Each underlying fund is responsible for its own market timing policies, and we cannot guarantee that we will be able to implement specific market timing policies and procedures that a Fund has adopted. As a result, a Fund’s returns might be adversely affected, and a Fund might terminate our right to offer its shares through the Variable Account. |
| • | Funds that are available as investment options under the contract may also be offered to other intermediaries who are eligible to purchase and hold shares of the Fund, including without limitation, separate accounts of other insurance companies and certain retirement plans. Even if we are able to implement a Fund’s market timing policies, we cannot guarantee that other intermediaries purchasing that same Fund’s shares will do so, and the returns of that Fund could be adversely affected as a result. |
| Minimum amount | |
| Transfers or surrenders: | $250 or entire account balance** |
| Maximum amount | |
| Transfers or surrenders: | Contract value or entire account balance |
| * | Failure to provide your Social Security Number or Taxpayer Identification Number may result in mandatory tax withholding on the taxable portion of the distribution. |
| ** | The contract value after a partial surrender must be at least $500. |
| • | Automated surrenders may be restricted by applicable law under some contracts. |
| • | You may not make additional systematic payments if automated partial surrenders are in effect. |
| • | If you have the Enhanced Legacy Benefit, SecureSource Legacy benefit rider, a SecureSource series rider or APB rider, you are not allowed to set up automated transfers except in connection with a Special DCA fixed account (see "Special DCA Fixed Account" and "Investment Allocation Restrictions for Certain Benefit Riders"). |
| • | Automated partial surrenders may result in income taxes and penalties on all or part of the amount surrendered. |
| • | The balance in any account from which you make an automated transfer or automated partial surrender must be sufficient to satisfy your instructions. If not, we will suspend your entire automated arrangement until the balance is adequate. |
| • | If you have a SecureSource series rider, you may set up automated partial surrenders up to the benefit available for withdrawal under the rider. |
| Minimum amount | |
| Transfers or surrenders: | $50 |
| Maximum amount | |
| Transfers or surrenders: | None |
| Minimum amount | |
| Transfers or surrenders: | $250 or entire account balance |
| Maximum amount | |
| Transfers: | Contract value or entire account balance |
| Surrenders: | $100,000 |
| • | If we receive your surrender request at our Service Center in good order before the close of the NYSE (4:00pm Eastern time unless the NYSE closes earlier), we will process your surrender using the accumulation unit value we calculate on the valuation date we received your surrender request. |
| • | If we receive your surrender request at our Service Center in good order at or after the close of the NYSE (4:00pm Eastern time unless the NYSE closes earlier), we will process your surrender using the accumulation unit value we calculate on the next valuation date after we received your surrender request. |
| • | If we receive your surrender request at our Service Center in good order before the close of the NYSE (4:00pm Eastern time unless the NYSE closes earlier), we will process your surrender using the accumulation unit value we calculate on the valuation date we received your surrender request. |
| • | If we receive your surrender request at our Service Center in good order at or after the close of the NYSE (4:00pm Eastern time unless the NYSE closes earlier), we will process your surrender using the accumulation unit value we calculate on the next valuation date after we received your surrender request. |
| • | payable to you; |
| • | mailed to address of record. |
| • | request that payment be wired to your bank; |
| • | pre-authorization required. |
| – | the NYSE is closed, except for normal holiday and weekend closings; |
| – | trading on the NYSE is restricted, according to SEC rules; |
| – | an emergency, as defined by SEC rules, makes it impractical to sell securities or value the net assets of the accounts; or |
| – | the SEC permits us to delay payment for the protection of security holders. |
| • | Distributions attributable to salary reduction contributions (plus earnings) made after Dec. 31, 1988, or to transfers or rollovers from other contracts, may be made from the TSA only if: |
| – | you are at least age 59½; |
| – | you are disabled as defined in the Code; |
| – | you severed employment with the employer who purchased the contract; |
| – | the distribution is because of your death; |
| – | the distribution is due to plan termination; or |
| – | you are a qualifying military reservist. |
| • | If you encounter a financial hardship (as provided by the Code), you may be eligible to receive a distribution of all contract values attributable to salary reduction contributions made after Dec. 31, 1988, but not the earnings on them. |
| • | Even though a distribution may be permitted under the above rules, it may be subject to IRS taxes and penalties (see “Taxes”). |
| • | The above restrictions on distributions do not affect the availability of the amount credited to the contract as of Dec. 31, 1988. The restrictions also do not apply to transfers or exchanges of contract value within the contract, or to another registered variable annuity contract or investment vehicle available through the employer. |
| • | If the contract has a loan provision, the right to receive a loan is described in detail in your contract. Loans will not be available if you have a SecureSource series rider, APB rider, Enhanced Legacy Benefit, SecureSource Legacy benefit rider or Benefit Protector Death Benefit rider. |
| • | If you have the Enhanced Legacy Benefit, joint ownership and joint annuitants are not allowed while this rider is in force. For contracts issued in all states except California, if any owner is age 75 or younger immediately following the ownership change, the rider will continue and the benefit amount may be reset. An assignment or change of ownership may also be made to a non-natural owner (e.g. an individual ownership changed to an irrevocable trust) or to a revocable trust, with either holding for the sole benefit of the prior owner. Assignments and ownership changes other than these will terminate the rider. For contracts issued in California, the benefits provided under the rider are only payable at the annuitant’s death. You may not change the annuitant while this rider is in force, unless you are the annuitant and your spouse becomes the owner and annuitant under the spousal continuation provision. An ownership change will not terminate the rider or reset the benefit amount. |
| • | If you have the SecureSource Legacy benefit rider and a SecureSource series – Single Life rider, if there is an assignment or a change of ownership, the rider will terminate unless the new owner or assignee assumes total ownership of the contract and was an owner or the covered person before the change, or is a non-natural owner or revocable trust, either holding for the sole benefit of the prior owner, subject to state restrictions. For contracts issued in California, the benefits provided under the SecureSource Legacy rider are only payable at the annuitant’s death. An ownership change will not terminate the rider. |
| • | If you have the SecureSource Legacy benefit rider and a SecureSource series – Joint Life rider, if there is an assignment or a change of ownership, the rider will terminate unless the new owner or assignee assumes total ownership of the contract and was an owner or a covered spouse before the change, or is a non-natural owner or a revocable trust, either holding for the sole benefit of the prior owner, subject to state restrictions. For contracts issued in California, the benefits provided under the SecureSource Legacy benefit rider are only payable at the annuitant’s death. You may not change the annuitant while this rider is in force unless a covered spouse becomes the owner and annuitant under the spousal continuation provision. An ownership change will not terminate the rider. |
| • | If you have the Benefit Protector rider, if any owner is older than age 75 immediately following the ownership change, the rider will terminate upon change of ownership. If all owners are younger than age 76, the rider continues unless the owner chooses to terminate it during the 30-day window following the effective date of the ownership change. The Benefit Protector death benefit values may be reset (see “Optional Death Benefits — Benefit Protector Death Benefit Rider”). |
| • | If you elected the ROPP Death Benefit and if any owner is older than age 79 immediately following the ownership change, the ROPP Death Benefit will continue. If all owners are age 79 or younger, the ROPP Death Benefit will terminate and the Standard Death Benefit will apply. |
| • | If you elected the 5-Year MAV Death Benefit and if any owner is older than age 75 immediately following the ownership change, this rider will terminate and the Standard Death Benefit will apply. If all owners are age 75 or younger, the 5-Year MAV Death Benefit will continue. |
| • | If you elected the MAV Death Benefit and if any owner is older than age 79 immediately following the ownership change, this rider will terminate and the Standard Death Benefit will apply. If all owners are age 79 or younger, the MAV Death Benefit will continue. |
| • | The ROPP Death Benefit, MAV Death Benefit and 5-Year MAV Death Benefit values may be reset (see “Benefits in the Case of Death”). |
| • | If the death benefit that applies to your contract changes due to an ownership change, the mortality and expense risk fee may change as well (see “Charges — Mortality and Expense Risk Fee”). |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| Standard Benefits (no additional charge) | ||||
| Dollar Cost Averaging | Allows the systematic transfer of a specified dollar amount among the subaccounts | N/A | N/A | • Transfers not available to the Special DCAfixed account• Not available with a living benefit |
| Special Dollar Cost Averaging (SDCA) | Allows the systematic transfer from the Special DCA fixed account to one or more eligible subaccounts | N/A | N/A | • Must be funded with a purchase payment, not transferred contract value• Only 6-month and 12-month options are available• Transfers occur on a monthly basis and the first monthly transfer occurs one day after we receive your purchase payment |
| Asset Rebalancing | Allows you to have your investments periodically rebalanced among the subaccounts to your pre-selected percentages | N/A | N/A | • You must have $2,000 in Contract Value to participate.• We require 30 days notice for you to change or cancel the program• You can request rebalancing to be done either quarterly, semiannually or annually• Other restrictions may apply for contracts with the SecureSource Tempo rider |
| Income Guide | Provides reporting and monitoring of withdrawals you take from your annuity | N/A | N/A | • Contract owners must be at least age 50 and no older than age 85• Available only if the servicing broker-dealer on your contract is Ameriprise Financial Services, LLC• Not available with a living benefit• Not available if you are making substantially equal withdrawals• Not available if you have more than one systematic withdrawal program in place• Systematic withdrawals must be set up according to the all the terms of Income Guide• Your contract cannot have any loans |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| Automated Partial Surrenders/Systematic Withdrawals | Allows automated partial surrenders from the contract | N/A | N/A | • Additional systematic payments are not allowed with automated partial surrenders• For contracts with a SecureSource series rider you may set up automated partial surrenders up to the benefit available for withdrawals under the rider• May result in income taxes and IRS penalty on all or a portion of the amounts surrendered |
| Nursing Home or Hospital Confinement | Allows you to withdraw contract value without a surrender charge | N/A | N/A | • You must be confined to a hospital or nursing home for the prior 60 days or confinement began within 30 days following a 60 day confinement period• You must be under age 76 on the contract issue date and confinement must start after the contract issue date• Must receive your surrender request no later than 91 days after your release from the hospital or nursing home• Amount withdrawn must be paid directly to you |
| Terminal Illness | Allows you to withdraw contract value without a surrender charge | N/A | N/A | • Terminal Illness diagnosis must occur after the first contract year• Must be terminally ill and not expected to live more than 12 months• Amount withdrawn must be paid directly to you |
| Standard Death Benefit (available for contract owners age 79 and younger) | Provides a guaranteed death benefit equal to the greater of the Return of Purchase Payment Value (ROPP) or Contract Value after any rider charges have been deducted | N/A | N/A | • Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals, and such reductions could be significant• Annuitizing the Contract terminates the benefit. |
| Standard Death Benefit (available if any contract owner is age 80 and older) | Provides a minimum death benefit equal to the Contract Value after any rider charges have been deducted | N/A | N/A | • Annuitizing the Contract terminates the benefit |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| Optional Benefits | ||||
| ROPP Death Benefit | Provides
a guaranteed death benefit equal to the greater of the Return of Purchase Payment Value or Contract Value after any rider charges have been deducted |
0.35% of average daily variable account value | 0.35% | • Available if any owner is age 80 and older• Must be elected at contract issue• Not available with any SecureSource series rider• Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals, and such reductions could be significant• Annuitizing the Contract terminates the benefit |
| MAV Death Benefit | Increases the guaranteed death benefit to the highest anniversary contract value, adjusted for any partial surrenders | 0.25% of average daily variable account value | 0.25% | • Available to owners age 79 and younger• Must be elected at contract issue• Not available with any SecureSource series rider or Enhanced Legacy Benefit• No longer eligible to increase on any contract anniversary on/after your 81st birthday.• Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals. Such reductions could be significant.• Annuitizing the Contract terminates the benefit |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| 5-year MAV Death Benefit | Increases the guaranteed death benefit to the highest 5th anniversary contract value, adjusted for any partial surrenders | 0.10% of average daily variable account value | 0.10% | • Available to owners age 75 and younger• Must be elected at contract issue• No longer eligible to increase on any contract anniversary on/ after your 81st birthday• Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals. Such reductions could be significant• Annuitizing the Contract terminates the benefit |
| Benefit Protector Death Benefit | Provides an additional death benefit, based on a percentage of contract earnings, to help offset expenses after death such as funeral expenses or federal and state taxes | 0.25% of contract value | 0.25% | • Available to owners age 75 and younger• Must be elected at contract issue• Only available if elected with MAV or 5-year MAV• For contract owners age 70 and older at issue, the benefit decreases from 40% to 15% of earnings• Annuitizing the Contract terminates the benefit |
| Enhanced Legacy Benefit | Increases the guaranteed death benefit to the greater of the MAV (i.e. the highest anniversary contract value) and ADB value (i.e purchase payments compounded at 5%), adjusted for any partial surrenders | 1.75% of contract value or guaranteed death benefit amount, whichever is greater (on or after age 86, 1.75% of guaranteed death benefit only) | 0.95% | • Available to owners age 75 and younger• Must be elected at contract issue• Not available with any living benefit rider or any other death benefit rider• Subject to Investment Allocation restrictions• No longer eligible to increase on any contract anniversary following your 81st (for ADB value) or 86th (for MAV) birthday• Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals. Such reductions could be significant• Annuitizing the Contract terminates the benefit |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| SecureSource Legacy Benefit | For contracts with one of the SecureSource series riders increases the guaranteed death benefit to the highest anniversary contract value, adjusted for any partial surrenders. |
On or after 5/4/2020: 0.50% Prior to 5/4/2020: 0.40% of contract value or SecureSource Legacy Death Benefit amount, whichever is greater |
On or after 5/4/2020: 0.35% Prior to 5/4/2020: 0.25% |
• Must be elected at contract issue• Available only when purchased with the one of SecureSource series riders• Subject to Investment Allocation restrictions• Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals. Such reductions could be significant• Annuitizing the Contract terminates the benefit |
| SecureSource TempoSM | Provides lifetime income regardless of investment performance | 2.50% of contract value or the Benefit Base, whichever is greater | Disclosed in the Rate Sheet Prospectus Supplement along with other benefit information | • Available to owners age 85 or younger• Must be elected at contract issue• Available as a Single Life or Joint Life option• Not available under an inherited qualified annuity• Subject to Investment Allocation restrictions• Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract value goes to zero due to an excess withdrawal• May have limitations on additional purchase payments |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| SecureSource Core 2 | Provides lifetime income regardless of investment performance | 2.50% of contract value or the Benefit Base, whichever is greater | Disclosed in the Rate Sheet prospectus Supplement along with other benefit information | • Available to owners age 85 or younger• Must be elected at contract issue• Available as a Single Life or Joint Life option• Not available under an inherited qualified annuity• Subject to Investment Allocation restrictions• Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract value goes to zero due to an excess withdrawal• May have limitations on additional purchase payments |
| SecureSource 5 | Provides lifetime income regardless of investment performance | 2.50% of contract value or the Benefit Base, whichever is greater | Disclosed in the Rate Sheet Prospectus Supplement along with other benefit information | • Available to owners age 85 or younger• Must be elected at contract issue• Available as a Single Life or Joint Life option• Not available under an inherited qualified annuity• Subject to Investment Allocation restrictions• Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract value goes to zero due to an excess withdrawal• May have limitations on additional purchase payments |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| SecureSource 5® Plus | Provides lifetime income regardless of investment performance | 2.50% of contract value or the Benefit Base, whichever is greater | Disclosed in the Rate Sheet Prospectus Supplement along with other benefit information | • Available to owners age 85 or younger• Must be elected at contract issue• Available as a Single Life or Joint Life option• Not available under an inherited qualified annuity• Subject to Investment Allocation restrictions• Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract value goes to zero due to an excess withdrawal• May have limitations on additional purchase payments |
| SecureSource CoreSM | Provides lifetime minimum withdrawal benefit regardless of investment performance | 2.25% of contract value or the Benefit Base, whichever is greater | Disclosed in the Rate Sheet Prospectus Supplement along with other benefit information | • Available to owners age 85 or younger• Must be elected at contract issue• Available as a Single Life or Joint Life option• Not available under an inherited qualified annuity• Subject to Investment Allocation restrictions• Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract value goes to zero due to an excess withdrawal• Limitations on additional purchase payments |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| SecureSource Core Plus | Provides lifetime minimum withdrawal benefit regardless of investment performance | 2.75% of contract value or the Benefit Base, whichever is greater | Disclosed in the Rate Sheet Prospectus Supplement along with other benefit information | • Available to owners age 85 or younger• Must be elected at contract issue• Available as a Single Life or Joint Life option• Not available under an inherited qualified annuity• Subject to Investment Allocation restrictions• Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract value goes to zero due to an excess withdrawal• Limitations on additional purchase payments |
| SecureSource 4 | Provides lifetime minimum withdrawal benefit regardless of investment performance | 2.25% of contract value or the Benefit Base, whichever is greater | Disclosed in the Rate Sheet Prospectus Supplement along with other benefit information | • Available to owners age 85 or younger• Must be elected at contract issue• Available as a Single Life or Joint Life option• Not available under an inherited qualified annuity• Subject to Investment Allocation restrictions• Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract value goes to zero due to an excess withdrawal• Limitations on additional purchase payments |
| Name of Benefit | Purpose | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations |
| SecureSource 4 Plus | Provides lifetime minimum withdrawal benefit regardless of investment performance | 2.25% of contract value or the Benefit Base, whichever is greater | Disclosed in the Rate Sheet Prospectus Supplement along with other benefit information | • Available to owners age 85 or younger• Must be elected at contract issue• Available as a Single Life or Joint Life option• Not available under an inherited qualified annuity• Subject to Investment Allocation restrictions• Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract value goes to zero due to an excess withdrawal• Limitations on additional purchase payments |
| Accumulation Protector Benefit | Provides 100% of initial investment or 90% of highest contract anniversary value (adjusted for partial surrenders) at the end of 10 year waiting period, regardless of investment performance | 2.00% of contract value or the Minimum Contract Accumulation Value, whichever is greater | 1.30% Varies by issue date and elective step up date | • Available to owners age 80 or younger• Must be elected at contract issue• Not available with SecureSource series riders or SecureSource Legacy benefit rider• Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals. Such reductions could be significant• The rider ends when the Waiting Period expires• Limitations on additional purchase payments• Subject to Investment Allocation restrictions• Step ups restart the Waiting Period |
| • | the contract value after any rider charges have been deducted; or |
| • | the Return of Purchase Payments (ROPP) value. |
| Adjusted partial surrenders | = | PS × DB |
| CV |
| PS | = | the amount by which the contract value is reduced as a result of the partial surrender. |
| DB | = | the applicable ROPP value, MAV value or 5-year MAV value on the date of (but prior to) the partial surrender. |
| CV | = | the contract value on the date of (but prior to) the partial surrender. |
| • | You purchase the contract with a payment of $20,000. |
| • | During the second contract year the contract value falls to $18,000, at which point you take a $1,500 partial surrender, leaving a contract value of $16,500. |
| We calculate the death benefit as follows: | ||||
| The total purchase payments minus adjustments for partial surrenders: | ||||
| Total
purchase payments minus adjusted partial surrenders, calculated as: |
$20,000 | |||
| $1,500 × $20,000 | = | –1,667 | ||
| $18,000 | ||||
| for a standard death benefit of: | $18,333 | |||
| since this is greater than your contract value of $16,500 | ||||
| • | the beneficiary elects in writing, and payouts begin, no later than one year after your death, or other date as permitted by the IRS; and |
| • | the payout period does not extend beyond the beneficiary’s life or life expectancy. |
| • | Spouse beneficiary: If you have not elected an annuity payout plan, and if your spouse is the sole primary beneficiary, your spouse may either elect to treat the contract as his/her own (spousal continuation), so long as he or she is eligible to do so, or elect an annuity payout plan or another plan agreed to by us. If your spouse elects a payout option, the payouts must begin no later than the year in which you would have reached age 72. If you attained age 72 at the time of death, payouts must begin no later than Dec. 31 of the year following the year of your death. |
| Your spouse may elect to assume ownership of the contract with the contract value equal to the death benefit that would otherwise have been paid. To do this your spouse must, on the date our death claim requirements are fulfilled, give us written instructions to continue the contract as owner. There will be no surrender charges on the contract from that point forward. If you elected any optional contract features or riders, your spouse will be subject to all limitations and/or restrictions of those features or riders just as if they were purchasing a new contract and the values may be reset (see “Optional Living Benefits”, “Optional Death Benefits” and “Benefits in the Case of Death — Standard Death Benefit”). If the death benefit applicable to the contract changes due to spousal continuation, the mortality and expense risk fee may change as well (see “Charges — Mortality and Expense Risk Fee”). If your spouse is the sole beneficiary and elects to treat the contract as his/her own as an inherited IRA, the SecureSource series rider will terminate. | |
| If you purchased this contract as an inherited IRA and your spouse is the sole beneficiary, he or she can elect to continue this contract as an inherited IRA. Your spouse must follow the schedule of minimum surrenders established based on your life expectancy and must withdraw his or her entire inherited interest by December 31 of the 10th year following your date of death. | |
| If you purchased this contract as an inherited IRA and your spouse is not the sole beneficiary, he or she can elect an alternative payment plan for his or her share of the death benefit and all optional death benefits and living benefits will terminate. Your spouse beneficiary must submit the applicable investment options form. No additional purchase payments will be accepted. The death benefit payable on the death of the spouse beneficiary is the contract value; the mortality and expense risk fee will be the same as is applicable to the Standard Death Benefit. Your spouse must follow the schedule of minimum surrenders established based on your life expectancy and must withdraw his or her entire inherited interest by December 31 of the 10th year following your date of death. | |
| • | Non-spouse beneficiary: If you have not elected an annuity payout plan, and if death occurs on or after Jan. 1, 2020, the beneficiary is required to withdraw his or her entire inherited interest by December 31 of the 10th year following your date of death unless they qualify as an “eligible designated beneficiary.” Your beneficiary may be required to take distributions during the 10-year period if you died after your Required Beginning Date, as defined under the |
| Code. Eligible designated beneficiaries may continue to take proceeds out over your life expectancy if you died prior to your Required Beginning Date or over the greater of your life expectancy or their life expectancy if you died after your Required Beginning Date. Eligible designated beneficiaries include: |
| • | the surviving spouse; |
| • | a lawful child of the owner under the age of 21 (remaining amount must be withdrawn by the earlier of the end of the year the minor turns 31 or end of the 10th year following the minor's death); |
| • | disabled within the meaning of Code section 72(m)(7); |
| • | chronically ill within the meaning of Code section 7702B(c)(2); |
| • | any other person who is not more than 10 years younger than the owner. |
| • | the beneficiary elects in writing, and payouts begin, no later than one year following the year of your death; and |
| • | the payout period does not extend beyond December 31 of the 10th year following your death or the applicable life expectancy for an eligible designated beneficiary. |
| • | Spouse and Non-spouse beneficiary: If a beneficiary elects an alternative payment plan which is an inherited IRA, all optional death benefits and living benefits will terminate. The beneficiary must submit the applicable investment options form. No additional purchase payments will be accepted. The death benefit payable on the death of the beneficiary is the contract value; the mortality and expense risk fee will be the same as is applicable to the Standard Death Benefit. |
| • | Annuity payout plan: If you elect an annuity payout plan, the payouts to your beneficiary may continue depending on the annuity payout plan you elect, subject to adjustment to comply with the IRS rules and regulations. |
| • | ROPP Death Benefit; |
| • | MAV Death Benefit; |
| • | 5-Year MAV Death Benefit; |
| • | Benefit Protector Death Benefit; |
| • | Enhanced Legacy Benefit; and |
| • | SecureSource Legacy Benefit. |
| 1. | the contract value after any rider charges have been deducted, or |
| 2. | the ROPP Value. |
| 1. | the contract value after any rider charges have been deducted; |
| 2. | the ROPP value; or |
| 3. | the MAV. |
| (a) | the contract value after any rider charges have been deducted, or |
| (b) | the MAV on that date, but prior to the reset. |
| 1. | the contract value after any rider charges have been deducted; |
| 2. | the ROPP value; or |
| 3. | the 5-year MAV. |
| (a) | the contract value after any rider charges have been deducted, or |
| (b) | the 5-Year MAV on that date, but prior to the reset. |
| • | the applicable death benefit, plus: |
| • | 40% of your earnings at death if you were under age 70 on the rider effective date; or |
| • | 15% of your earnings at death if you were age 70 or older on the rider effective date. |
| • | You may terminate the rider within 30 days after the first rider anniversary. |
| • | You may terminate the rider within 30 days after any rider anniversary beginning with the seventh rider anniversary. |
| • | The rider will terminate when you make a full surrender from the contract or on the annuitization start date. |
| • | Your spouse may terminate the rider within 30 days following the effective date of the spousal continuation if your spouse is age 75 or younger. |
| • | You may terminate the rider within 30 days following the effective date of an ownership change if you are age 75 or younger. |
| • | The rider will terminate for a spousal continuation or ownership change if the spouse or any owner is age 76 or older at the time of the change. |
| • | The rider will terminate after the death benefit is payable, unless the spouse continues the contract under spousal continuation provision. |
| • | The rider will terminate when beneficiary elects an alternative payment plan which is an inherited IRA. |
| 1. | contract value after any rider charges have been deducted; or |
| 2. | the ROPP value; or |
| 3. | the Accumulation Death Benefit (ADB) value; or |
| 4. | the MAV. |
| • | The benefits provided under this rider are only payable at the annuitant’s death and terms “you” or “your” refer to annuitant. |
| • | If the owner is a natural person, the owner and the annuitant must be the same at issue. |
| a × b | where: |
| c |
| a | = | the amount the contract value is reduced by the partial surrender |
| b | = | the applicable ROPP value, ADB value or MAV on the date of (but prior to) the partial surrender |
| c | = | the contract value on the date of (but prior to) the partial surrender. |
| 1. | On the first contract anniversary, we increase the ADB value by 5%, multiplied by the ADB value as of 60 days after the contract date. |
| 2. | On each contract anniversary after the first and prior to you reaching age 81, we increase the ADB value by 5%, multiplied by the prior contract anniversary’s ADB value. |
| 3. | On each contract anniversary prior to you reaching age 86, the MAV will be increased to the contract value (after rider charges are deducted) if greater. |
| • | Investment Allocation Restrictions: This rider requires 100% allocation of purchase payments and your contract value to approved investment options, which are currently Portfolio Stabilizer funds. This means that you will not be able to allocate contract value to all of the subaccounts that are available under the contract to contract owners who do not elect the rider. (See “Appendix B: Investment Allocation Restrictions for the Accumulation Protector Benefit Rider or Enhanced Legacy Benefit”). You may allocate purchase payments to the Special DCA fixed account, when available, and we will make monthly transfers into the investment option you have chosen. We reserve the right to limit the number of investment option changes per contract year. We also reserve the right to limit elective |
| investment option changes if required to comply with the written instructions of a fund (see “Making the Most of Your Contract – Transferring Among Accounts – Market Timing”). We reserve the right to add, remove or substitute approved investment options at any time and in our sole discretion. Any substitution of funds may be subject to the SEC or state insurance departments approval. (See “Substitution of Investments”). | |
| • | Limitation on Purchase payments: We reserve the right to limit the cumulative amount of purchase payments, subject to state restrictions. This may limit your ability to increase the contract value and death benefit. For current purchase payment restrictions, please see “Buying Your Contract — Purchase Payments”. |
| 1. | After the death benefit is payable, unless the spouse continues the contract as described in the spouse’s option to continue contract provision, the rider will terminate. |
| 2. | For contracts issued in California, after the death benefit is payable, if you are not the annuitant, the rider will terminate. |
| 3. | Certain assignment and ownership changes as described in the Assignment and Change of Ownership provision will terminate the rider (does not apply to contracts issued in California). |
| 4. | On the annuitization start date the rider will terminate. |
| 5. | In relation to certain increases to the annual rider fee as described in the Enhanced Legacy Benefit Charge provision, your written request will terminate the rider. |
| 6. | Reduction of the contract value to zero will terminate the rider. |
| 7. | Termination of the contract for any reason will terminate the rider. |
| • | The benefits provided under this rider are only payable at the annuitant’s death. |
| • | If the owner is a natural person, the owner and the annuitant must be the same at issue. The annuitant cannot be changed. |
| • | If the owner and the annuitant are the same when a death benefit is payable, the death benefit is the greater of the SecureSource Legacy benefit amount or the death benefit payable under the terms of the base contract. |
| • | If there is an ownership change resulting in a natural owner that is not the same as the annuitant, the death benefit under the terms of the base contract will be payable if the owner dies. The SecureSource Legacy benefit amount will not be included in the death benefit. |
| • | If there is an ownership change resulting in a natural owner that is not the same as the annuitant, the SecureSource Legacy benefit amount will be payable if the annuitant dies. The death benefit under the terms of the base contract will not be payable |
| 1. | At rider effective date |
| 2. | When an additional purchase payment is made |
| 3. | When a withdrawal is taken |
| (A) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the SecureSource Legacy benefit amount on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal |
| (B) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the SecureSource Legacy benefit amount is reduced by the amount of the withdrawal. |
| (C) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the SecureSource Legacy benefit amount will be reduced by the greater of (1) the amount of the withdrawal or (2) the Remaining Annual Payment plus an amount calculated as follows: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the SecureSource Legacy benefit amount on the date of (but prior to) the withdrawal minus the Remaining Annual Payment |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment |
| 4. | At each rider anniversary |
| • | This rider continues as part of the contract. |
| • | At the time of spousal continuation, the SecureSource Legacy benefit amount may be increased. On the valuation date spousal continuation is effective, the SecureSource Legacy benefit amount will be increased to the contract value (after any rider fees have been deducted and after any increase to the contract value due to the death benefit that would otherwise have been paid) if the contract value is greater. The death benefit that would otherwise have been paid will not include the SecureSource Legacy benefit amount. |
| • | The SecureSource Legacy benefit amount is available for payment at the death of the surviving Covered Spouse. |
| • | Investment Allocation Restrictions: This rider requires 100% allocation of purchase payments and your contract value to approved investment options. (See “Investment Allocation Restrictions for Certain Benefit Riders” and “Appendix B: Funds Available Under the Optional Benefits Offered Under the Contract – Investment Allocation Restrictions for the SecureSource Core 2, SecureSource 5, SecureSource 5 Plus, SecureSource Core, SecureSource Core Plus, SecureSource 4, SecureSource 4 Plus benefit riders and Investment Allocation restrictions for the SecureSource Tempo rider”). This means that you will not be able to allocate contract value to all of the subaccounts that are available under the contract to contract owners who do not elect the rider. We reserve the right to limit elective investment option changes if required to comply with the written instructions of a fund (see “Making the Most of Your Contract – Transferring Among Accounts – Market Timing”). We reserve the right to add, remove or substitute approved investment options at any time and in our sole discretion. Any substitution of funds may be subject to the SEC or state insurance departments approval. (See “Substitution of Investments”). |
| • | Limitation on Transfers: Because this rider requires 100% allocation to approved investment options, transfer privileges granted under the contract are suspended other than: (1) transfers among the available investment options as described in the investment options and limits provision, provided such transfers are not determined to disadvantage other contract owners (See “Making the Most of Your Contract – Transferring Among Accounts – Market Timing”) or (2) transfers as otherwise agreed to by us. |
| 1. | Single Life: After the death benefit is payable, the rider will terminate. |
| 2. | Joint Life: After the death benefit is payable, unless the Covered Spouse continues the contract as described in the spouse’s option to continue contract provision, the rider will terminate. |
| 3. | On the annuitization start date, if you choose a payout option available under the contract, the rider will terminate. |
| 4. | In relation to certain increases to the annual rider fee as described in the SecureSource Legacy Benefit Rider Charge provision, your written request will terminate the rider. |
| 5. | Reduction of the SecureSource Legacy benefit amount to zero will terminate the rider. |
| 6. | Termination of the SecureSource series rider for any reason will also terminate the SecureSource Legacy benefit rider. |
| 7. | Termination of the contract for any reason will terminate the rider. |
| 1. | Single Life: After the death benefit is payable, the rider will terminate. |
| 2. | Joint Life: After the death benefit is payable, unless the Covered Spouse continues the contract as described in the spouse’s option to continue contract provision, the rider will terminate. |
| 3. | On the annuitization start date the rider will terminate. |
| 4. | In relation to certain increases to the annual rider fee as described in the SecureSource Legacy Benefit Rider Charge provision, your written request will terminate the rider. |
| 5. | Reduction of the contract value to zero will terminate the rider. |
| 6. | Termination of the SecureSource series rider for any reason will also terminate the SecureSource Legacy benefit rider. |
| 7. | Termination of the contract for any reason will terminate the rider. |
| • | you intend to make periodic withdrawals from your annuity contract; and |
| • | you wish to ensure that market performance will not adversely affect your ability to withdraw income over your lifetime. |
| • | you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount available under the rider (i.e. excess withdrawals); or |
| • | you want to invest in funds other than the approved investment options. Certain approved investment options may only be available within an allocation plan, subject to requirements and limitations. For a list of currently approved investment options and allocation plans, see “Investment Allocation Restrictions for Certain Benefit Riders”. |
| • | withdraw more than the allowed withdrawal amount in a contract year, or |
| • | take withdrawals before the Current Annual Payment is established. |
| • | SecureSource Tempo - Single Life |
| • | SecureSource Tempo - Joint Life |
| • | Single Life: you are 85 or younger on the date the contract is issued; or |
| • | Joint Life: you and your spouse are 85 or younger on the date the contract is issued. |
| • | Single Life: death (see “At Death” heading below). |
| • | Joint Life: the death of the last surviving Covered Spouse (see “Joint Life only: Covered Spouses” and “At Death” headings below). |
| • | The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band. |
| • | The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band. |
| • | Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band. |
| • | Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band. |
| • | When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age). |
| • | On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage. |
| • | Upon Annual Step-Ups (see “Annual Step-Ups” below). |
| • | For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age. |
| 1 | – | (a/b) |
| a | = | Contract value at the end of the prior valuation period |
| b | = | Withdrawal Adjustment Base at the end of the prior valuation period |
| (1) | when your contract value on a rider anniversary is less than two times the Benefit Base multiplied by the Minimum Lifetime Payment Percentage for your current Age Band, or |
| (2) | when the contract value reduces to zero. |
| 1. | At rider effective date |
| 2. | When an additional purchase payment is made |
| • | the Returns-linked Credit Base will be increased by the amount of the additional purchase payment; and |
| • | the Maximum Credit is recalculated to the Returns-linked Credit Base multiplied by the Maximum Credit Percentage; and |
| • | the Maximum Carryover is recalculated to the Returns-linked Credit Base multiplied by the Maximum Carryover Percentage. |
| 3. | When a withdrawal is taken |
| (A) | The Withdrawal Adjustment Base will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal,” calculated as follows: |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal. |
| (B) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| (C) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Carryover do not change. |
| (D) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Carryover will be reduced by an amount as calculated below: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the Benefit Base or Credit Carryover (as applicable) on the date of (but prior to) the withdrawal |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
| 1. | Returns-linked Credit for the Benefit Base: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual rider fee, Returns-linked Credits may be available. The Maximum Credit percentage, Maximum Credit Carryover percentage and Credit Multiplier are shown in the Rate Sheet Prospectus Supplement. |
| (a × b) + c | where: |
| a | = | Contract Year Returns used for Credit |
| b | = | Credit Multiplier |
| c | = | Credit Carryover |
| • | Contract Returns Used for Credit: |
| - | On the first Rider
Anniversary The Contract Returns Used for Credit equals the Contract Value on the first Rider Anniversary less the purchase payments received during the first contract year, but it will not be less than zero. |
| - | On Any Other Rider Anniversary
During a Credit Period The Contract Returns Used for Credit equals the Contract Value on the Rider Anniversary less the Contract Value on the prior Rider Anniversary less any purchase payments received in that contract year, but it will not be less than zero. |
| - | The Contract Value used to determine the Contract Returns Used for Credit is the value on the anniversary after all charges have been deducted. Your ability to earn Returns-linked Credits can be limited by declining or volatile equity market performance, withdrawals and charges. |
| - | If the Covered Spouse continued the contract under the spousal continuation provision in the prior contract year, the Contract Returns Used For Credit is reduced by any increases to the Contract Value due to the death benefit that would otherwise have been paid. |
| 2. | Annual Step-Up for the Benefit Base: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline an increase to the annual rider fee, future Annual Step-Ups will no longer be available. |
| • | The Benefit Base will be increased to the contract value, |
| • | The Credit period will restart, |
| • | If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation. |
| 3. | Credit Carryover: If you did not take any withdrawals during the prior contract year, the Credit Carryover is recalculated on the Rider Anniversary after any Returns-linked Credit and any Annual Step-Up has been applied to the Benefit Base. It equals the lesser of the Maximum Carryover (immediately prior to this rider anniversary) or the following: |
| (a × b) + c - d | where: |
| a | = | Contract Returns Used for Credit |
| b | = | Credit Multiplier |
| c | = | Credit Carryover immediately prior to this rider anniversary |
| d | = | any Returns-linked Credit that was applied on this Rider Anniversary |
| 4. | Returns-linked Credit Base, Maximum Credit and Maximum Carryover: The following values are reset on each Rider Anniversary after any Returns-linked Credit and any Annual Step-Up has been applied to the Benefit Base: |
| • | The Returns-linked Credit Base is reset to the Contract Value (after rider charges are deducted) on the Rider Anniversary. |
| • | The Maximum Credit is recalculated and equals the Returns-linked Credit Base multiplied by the Maximum Credit Percentage. |
| • | The Maximum Carryover is recalculated and equals the greater of 1) Returns-linked Credit Base multiplied by the Maximum Carryover Percentage or 2) the Credit Carryover as determined under item 3 of the Rider Anniversary processing provision above. |
| 5. | The Withdrawal Adjustment Base: If You did not decline an increase to the annual rider fee, the Withdrawal Adjustment Base will be increased to the Contract Value, if greater. |
| • | The Current Annual Payment is established; |
| • | The RMD is for your contract alone; |
| • | The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| • | The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and the Current Annual Payment will be paid annually until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above). |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses). |
| In both cases above: |
| • | These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. |
| • | We will no longer accept additional purchase payments. |
| • | No more charges will be collected for the rider. |
| • | The Current Annual Payment is fixed for as long as payments are made. |
| • | The amount paid in the current contract year will be reduced for any prior withdrawals in that contract year. |
| • | If the Current Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise legally permissible. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate. |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate. |
| • | Single Life: after the death benefit is payable, the rider will terminate. |
| • | Single Life: spousal continuation will terminate the rider. |
| • | Single Life: for contracts issued in California, after the death of the Covered Person, the rider will terminate. |
| • | Joint Life: for contracts issued in California, after the death of the last Covered Spouse, the rider will terminate. |
| • | Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate. |
| • | When there are certain assignment and ownership changes as described in the “Assignment and Change of Ownership” section above, the rider will terminate. |
| • | On the annuitization start date, the rider will terminate, if you choose a payout option available under the contract. |
| • | You may terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource Tempo riders charge”). |
| • | When the contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | you intend to make periodic withdrawals from your annuity contract; and |
| • | you wish to ensure that market performance will not adversely affect your ability to withdraw income over your lifetime. |
| • | you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or |
| • | you want to invest in funds other than the approved investment options. For a list of currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”. |
| • | withdraw more than the allowed withdrawal amount in a contract year, or |
| • | take withdrawals before the Current Annual Payment is established. |
| • | SecureSource Core 2 - Single Life |
| • | SecureSource Core 2 - Joint Life |
| • | Single Life: you are 85 or younger on the date the contract is issued; or |
| • | Joint Life: you and your spouse are 85 or younger on the date the contract is issued. |
| • | Single Life: death (see “At Death” heading below). |
| • | Joint Life: the death of the last surviving Covered Spouse (see “Joint Life only: Covered Spouses” and “At Death” headings below). |
| • | The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band. |
| • | The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band. |
| • | Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band. |
| • | Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band. |
| • | When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age). |
| • | On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage. |
| • | Upon Annual Step-Ups (see “Annual Step-Ups” below). |
| • | For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age |
| Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age. |
| 1. | At rider effective date |
| 2. | When an additional purchase payment is made |
| 3. | When a withdrawal is taken |
| (A) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the Credit Base or Benefit Base (as applicable) on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal. |
| (B) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change. |
| (C) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount as calculated as follows: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
| • | Annual Credits: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and Credit Period are shown in the Rate Sheet Prospectus Supplement. |
| (A) | On the first rider anniversary |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the rider effective date increased by the Annual Credit and any additional purchase payments 180 days following the rider effective date. |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary. |
| • | Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available. |
| The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is greater than the Benefit Base after any annual credit is added. If an annual step-up is executed, the Benefit Base, Credit Base and Lifetime Payment Percentage will be adjusted as follows: |
| • | The Benefit Base (after any Annual Credit is added) will be increased to the contract value. |
| • | The Credit Base will be increased to the contract value and the Credit Period will restart, if there is an increase to Benefit Base due to an Annual Step-Up. |
| • | If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation. |
| • | The Current Annual Payment is established; |
| • | The RMD is for your contract alone; |
| • | The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| • | The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and that amount will be paid annually until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above). |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses). |
| In both cases above: |
| • | These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. |
| • | We will no longer accept additional purchase payments. |
| • | No more charges will be collected for the rider. |
| • | The Current Annual Payment is fixed for as long as payments are made. |
| • | The amount paid in the current contract year will be reduced for any prior withdrawals in that contract year. |
| • | If the Current Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise permissible. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate. |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate. |
| • | elect to take the death benefit under the terms of the contract, or |
| • | continue the contract under the spousal continuation option. |
| • | Single Life: after the death benefit is payable, the rider will terminate. |
| • | Single Life: spousal continuation will terminate the rider. |
| • | Single Life: for contracts issued in California, after the death of the Covered Person, the rider will terminate. |
| • | Joint Life: for contracts issued in California, after the death of the last Covered Spouse, the rider will terminate. |
| • | Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate. |
| • | When there are certain assignment and ownership changes as described in the “Assignment and Change of Ownership” section above, the rider will terminate. |
| • | On the annuitization start date, the rider will terminate, if you choose a payout option available under the contract. |
| • | You may terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource Core 2 riders charge”). |
| • | When the contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | you intend to make periodic withdrawals from your annuity contract; and |
| • | you wish to ensure that market performance will not adversely affect your ability to withdraw income over your lifetime. |
| • | you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or |
| • | you want to invest in funds other than the approved investment options. For a list of currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”. |
| • | withdraw more than the allowed withdrawal amount in a contract year, or |
| • | take withdrawals before the Current Annual Payment is established. |
| • | SecureSource 5 - Single Life |
| • | SecureSource 5 - Joint Life |
| • | Single Life: you are 85 or younger on the date the contract is issued; or |
| • | Joint Life: you and your spouse are 85 or younger on the date the contract is issued. |
| • | Single Life: death (see “At Death” heading below). |
| • | Joint Life: the death of the last surviving Covered Spouse (see “Joint Life only: Covered Spouses” and “At Death” headings below). |
| • | The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band. |
| • | The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band. |
| • | Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band. |
| • | Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band. |
| • | When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age). |
| • | On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage. |
| • | Upon Annual Step-Ups (see “Annual Step-Ups” below). |
| • | For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age. |
| 1 | – | (a/b) |
| a | = | Contract value at the end of the prior valuation period |
| b | = | Withdrawal Adjustment Base at the end of the prior valuation period |
| (1) | when your contract value on a rider anniversary is less than two times the Benefit Base multiplied by the Minimum Lifetime Payment Percentage for your current Age Band, or |
| (2) | when the contract value reduces to zero. |
| 1. | At rider effective date |
| 2. | When an additional purchase payment is made |
| 3. | When a withdrawal is taken |
| (A) | The Withdrawal Adjustment Base will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal,” calculated as follows: |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal. |
| (B) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| (C) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change. |
| (D) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount as calculated below: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
| • | Annual Credits: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and duration are shown in the Rate Sheet Prospectus Supplement. |
| (A) | On the first rider anniversary |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date. |
| (B) | On any other rider anniversary during a Credit Period |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary. |
| • | The Benefit Base (after any Annual Credit is added) will be increased to the contract value, if greater. |
| • | The Credit Base will be increased to the contract value and the Credit Period will restart, if there is an increase to Benefit Base due to an Annual Step-Up. |
| • | If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation. |
| • | The Withdrawal Adjustment Base on rider anniversaries: If you did not decline an increase to the annual rider fee, the Withdrawal Adjustment Base will be increased to the contract value, if greater. |
| • | The Current Annual Payment is established; |
| • | The RMD is for your contract alone; |
| • | The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| • | The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and the Current Annual Payment will be paid annually until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above). |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses). |
| In both cases above: |
| • | These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. |
| • | We will no longer accept additional purchase payments. |
| • | No more charges will be collected for the rider. |
| • | The Current Annual Payment is fixed for as long as payments are made. |
| • | The amount paid in the current contract year will be reduced for any prior withdrawals in that contract year. |
| • | If the Current Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth |
| date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise legally permissible. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate. |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate. |
| • | Single Life: after the death benefit is payable, the rider will terminate, even if the Covered Person is still living. |
| • | Single Life: spousal continuation will terminate the rider, even if the Covered Person is still living. |
| • | Single Life: for contracts issued in California, after the death of the Covered Person, the rider will terminate. |
| • | Joint Life: for contracts issued in California, after the death of the last Covered Spouse, the rider will terminate. |
| • | Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate. |
| • | When there are certain assignment and ownership changes as described in the “Assignment and Change of Ownership” section above, the rider will terminate. |
| • | On the annuitization start date, the rider will terminate, if you choose a payout option available under the contract. |
| • | You may terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource 5 riders charge”). |
| • | When the contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | you intend to make periodic withdrawals from your annuity contract; and |
| • | you wish to ensure that market performance will not adversely affect your ability to withdraw income over your lifetime. |
| • | you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or |
| • | you want to invest in funds other than the approved investment options. For a list of currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”. |
| • | withdraw more than the allowed withdrawal amount in a contract year, or |
| • | take withdrawals before the Current Annual Payment is established. |
| • | SecureSource 5 Plus - Single Life |
| • | SecureSource 5 Plus - Joint Life |
| • | Single Life: you are 85 or younger on the date the contract is issued; or |
| • | Joint Life: you and your spouse are 85 or younger on the date the contract is issued. |
| • | Single Life: death (see “At Death” heading below). |
| • | Joint Life: the death of the last surviving Covered Spouse (see “Joint Life only: Covered Spouses” and “At Death” headings below). |
| • | The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band. |
| • | The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band. |
| • | Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band. |
| • | Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band. |
| • | When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age). |
| • | On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage. |
| • | Upon Annual Step-Ups (see “Annual Step-ups” below). |
| • | For the Joint life rider, upon death or change in marital status: In the event of death or dissolution of marriage: (A) If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current Annual Payment is not established but the remaining Covered Spouse has reached the the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age. |
| 1 | – | (a/b) |
| a | = | Contract value at the end of the prior valuation period |
| b | = | Withdrawal Adjustment Base at the end of the prior valuation period |
| 1. | At rider effective date |
| 2. | When an additional purchase payment is made |
| The Benefit Base and Withdrawal Adjustment Base will be increased by the amount of each additional purchase payment. | |
| If the Credit Base is greater than zero, the Credit Base will be increased by the amount of each additional purchase payment. | |
| See “Buying Your Contract — Purchase Payments” for purchase payment limitations. | |
| 3. | When a withdrawal is taken |
| If the Credit Base is greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary. | |
| The Withdrawal Adjustment Base, Benefit Base and Credit Base can be adjusted, but they will not be less than zero. |
| (A) | The Withdrawal Adjustment Base will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal,” calculated as follows: |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal. |
| (B) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| (C) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change. |
| (D) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount as calculated below: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
| • | Annual Credits: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual rider fee, Annual Credits may be available. |
| (A) | On the first rider anniversary |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date. |
| (B) | On any other rider anniversary during a Credit Period |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary. |
| • | Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available. |
| The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is greater than the Benefit Base after any annual credit is added. If an annual step-up is executed, the Benefit Base, Credit Base and Lifetime Payment Percentage will be adjusted as follows: |
| • | The Benefit Base (after any Annual Credit is added) will be increased to the contract value, if greater. |
| • | The Credit Base will be increased to the contract value and the Credit Period will restart, if there is an increase to Benefit Base due to an Annual Step-Up. |
| • | If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation. |
| • | The Withdrawal Adjustment Base on rider anniversaries: If you did not decline an increase to the annual rider fee, the Withdrawal Adjustment Base will be increased to the contract value, if greater. |
| • | The Current Annual Payment is established; |
| • | The RMD is for your contract alone; |
| • | The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| • | The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and the Current Annual Payment will be paid annually until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above). |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses). |
| In both cases above: |
| • | These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. |
| • | We will no longer accept additional purchase payments. |
| • | No more charges will be collected for the rider. |
| • | The amount paid in the current contract year will be reduced for any prior withdrawals in that contract year. |
| • | If the Current Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, together without interest, and/or as otherwise legally permissible. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate. |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate. |
| • | elect to take the death benefit under the terms of the contract, or |
| • | continue the contract under the spousal continuation option. |
| • | Single Life: after the death benefit is payable, the rider will terminate, even if the Covered Person is still living. |
| • | Single Life: spousal continuation will terminate the rider, even if the Covered Person is still living. |
| • | Single Life: for contracts issued in California, after the death of the Covered Person, the rider will terminate. |
| • | Joint Life: for contracts issued in California, after the death of the last Covered Spouse, the rider will terminate. |
| • | Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate. |
| • | When there are certain assignment and ownership changes as described in the “Assignment and Change of Ownership” section above, the rider will terminate. |
| • | On the annuitization start date, the rider will terminate, if you choose a payout option available under the contract. |
| • | You may terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource 5 Plus rider charge”). |
| • | When the contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | you intend to make periodic withdrawals from your annuity contract; and |
| • | you wish to ensure that market performance will not adversely affect your ability to withdraw income over your lifetime. |
| • | you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or |
| • | you want to invest in funds other than the approved investment options. For a list of currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”. |
| • | withdraw more than the allowed withdrawal amount in a contract year, or |
| • | take withdrawals before the Current Annual Payment is established. |
| • | SecureSource Core - Single Life |
| • | SecureSource Core - Joint Life |
| • | Single Life: you are 85 or younger on the date the contract is issued; or |
| • | Joint Life: you and your spouse are 85 or younger on the date the contract is issued. |
| • | Single Life: death (see “At Death” heading below). |
| • | Joint Life: the death of the last surviving Covered Spouse (see “Joint Life only: Covered Spouses” and “At Death” headings below). |
| • | The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band. |
| • | The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band. |
| • | Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band. |
| • | Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band. |
| • | When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age). |
| • | On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage. |
| • | Upon Annual Step-Ups (see “Annual Step-Ups” below). |
| • | For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age. |
| 1. | At rider effective date |
| 2. | When an additional purchase payment is made |
| 3. | When a withdrawal is taken |
| (A) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the Credit Base or Benefit Base (as applicable) on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal. |
| (B) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change. |
| (C) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount as calculated as follows: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
| • | Annual Credits: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and Credit Period are shown in the Rate Sheet Prospectus Supplement. |
| (A) | On the first rider anniversary |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the rider effective date increased by the Annual Credit and any additional purchase payments 180 days following the rider effective date. |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary. |
| • | Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available. |
| The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is greater than the Benefit Base after any annual credit is added. If an annual step-up is executed, the Benefit Base, Credit Base and Lifetime Payment Percentage will be adjusted as follows: |
| • | The Benefit Base (after any Annual Credit is added) will be increased to the contract value. |
| • | The Credit Base will be increased to the contract value and the Credit Period will restart, if there is an increase to Benefit Base due to an Annual Step-Up. |
| • | If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation. |
| • | The Current Annual Payment is established; |
| • | The RMD is for your contract alone; |
| • | The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| • | The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and that amount will be paid annually until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above). |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses). |
| In both cases above: |
| • | These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. |
| • | We will no longer accept additional purchase payments. |
| • | No more charges will be collected for the rider. |
| • | The Current Annual Payment is fixed for as long as payments are made. |
| • | The amount paid in the current contract year will be reduced for any prior withdrawals in that contract year. |
| • | If the Current Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise permissible. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate. |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate. |
| • | elect to take the death benefit under the terms of the contract, or |
| • | continue the contract under the spousal continuation option. |
| • | Single Life: after the death benefit is payable, the rider will terminate. |
| • | Single Life: spousal continuation will terminate the rider. |
| • | Single Life: for contracts issued in California, after the death of the Covered Person, the rider will terminate. |
| • | Joint Life: for contracts issued in California, after the death of the last Covered Spouse, the rider will terminate. |
| • | Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate. |
| • | When there are certain assignment and ownership changes as described in the “Assignment and Change of Ownership” section above, the rider will terminate. |
| • | On the annuitization start date, the rider will terminate, if you choose a payout option available under the contract. |
| • | You may terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource Core riders charge”). |
| • | When the contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | you intend to make periodic withdrawals from your annuity contract; and |
| • | you wish to ensure that market performance will not adversely affect your ability to withdraw income over your lifetime. |
| • | you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or |
| • | you want to invest in funds other than the approved investment options. For a list of currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”. |
| • | withdraw more than the allowed withdrawal amount in a contract year, or |
| • | take withdrawals before the Current Annual Payment is established. |
| • | SecureSource Core Plus - Single Life |
| • | SecureSource Core Plus - Joint Life |
| • | Single Life: you are 85 or younger on the date the contract is issued; or |
| • | Joint Life: you and your spouse are 85 or younger on the date the contract is issued. |
| • | Single Life: death (see “At Death” heading below). |
| • | Joint Life: the death of the last surviving Covered Spouse (see “Joint Life only: Covered Spouses” and “At Death” headings below). |
| • | The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band. |
| • | The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band. |
| • | Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the |
| date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band. | |
| • | Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band. |
| • | When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age). |
| • | On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage. |
| • | Upon Annual Step-Ups (see “Annual Step-ups” below). |
| • | For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age. |
| 1. | At rider effective date |
| Purchase Payments | Base Doubler Percentage |
| Payments received before the first rider anniversary | 200% |
| Payments received thereafter | 100% |
| 2. | When an additional purchase payment is made |
| The Benefit Base will be increased by the amount of each additional purchase payment. | |
| If the Credit Base is greater than zero, the Credit Base will be increased by the amount of each additional purchase payment. | |
| If the Base Doubler is greater than zero, the Base Doubler will be increased by the amount of each additional purchase payment multiplied by the applicable Base Doubler Percentage as shown in the table above. | |
| See “Buying Your Contract — Purchase Payments” for purchase payment limitations. | |
| 3. | When a withdrawal is taken |
| If the Credit Base is greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary. | |
| If a withdrawal is taken before the Base Doubler Date, the Base Doubler is permanently set to zero. | |
| The Benefit Base and Credit Base can be adjusted, but they will not be less than zero. |
| (A) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal. |
| (B) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change. |
| (C) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount calculated as follows: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
| • | Annual Credits: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and duration are shown in the Rate Sheet Prospectus Supplement. |
| (A) | On the first rider anniversary |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date. |
| (B) | On any other rider anniversary during a Credit Period |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary. |
| • | Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available. |
| The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is greater than the Benefit Base after any annual credit is added. If an annual step-up is executed, the Benefit Base, Credit Base and Lifetime Payment Percentage will be adjusted as follows: |
| • | The Benefit Base (after any Annual Credit is added or Base Doubler is applied) will be increased to the contract value. |
| • | The Credit Base will be increased to the contract value and the Credit Period will restart, if there is an increase to Benefit Base due to an Annual Step-Up. |
| • | If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation |
| • | The Current Annual Payment is established; |
| • | The RMD is for your contract alone; |
| • | The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| • | The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and that amount will be paid annually until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above). |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses). |
| In both cases above: |
| • | These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. |
| • | We will no longer accept additional purchase payments. |
| • | No more charges will be collected for the rider. |
| • | The Current Annual Payment is fixed for as long as payments are made. |
| • | The amount paid in the current contract year will be reduced for any prior withdrawals in that contract year. |
| • | If the Current Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise legally permissible. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate. |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate. |
| • | elect to take the death benefit under the terms of the contract, or |
| • | continue the contract under the spousal continuation option. |
| • | Single Life: after the death benefit is payable, the rider will terminate. |
| • | Single Life: spousal continuation will terminate the rider. |
| • | Single Life: for contracts issued in California, after the death of the Covered Person, the rider will terminate. |
| • | Joint Life: for contracts issued in California, after the death of the last Covered Spouse, the rider will terminate. |
| • | Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate. |
| • | When there are certain assignment and ownership changes as described in the “Assignment and Change of Ownership” section above, the rider will terminate. |
| • | On the annuitization start date, the rider will terminate, if you choose a payout option available under the contract. |
| • | You may terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource Core Plus rider charge”). |
| • | When the contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | you intend to make periodic withdrawals from your annuity contract; and |
| • | you wish to ensure that market performance will not adversely affect your ability to withdraw income over your lifetime. |
| • | you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or |
| • | you want to invest in funds other than the approved investment options. For a list of currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”. |
| • | withdraw more than the allowed withdrawal amount in a contract year, or |
| • | take withdrawals before the Current Annual Payment is established. |
| • | SecureSource 4 - Single Life |
| • | SecureSource 4 - Joint Life |
| • | Single Life: you are 85 or younger on the date the contract is issued; or |
| • | Joint Life: you and your spouse are 85 or younger on the date the contract is issued. |
| • | Single Life: death (see “At Death” heading below). |
| • | Joint Life: the death of the last surviving Covered Spouse (see “Joint Life only: Covered Spouses” and “At Death” headings below). |
| • | The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band. |
| • | The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band. |
| • | Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band. |
| • | Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band. |
| • | When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age). |
| • | On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage. |
| • | Upon Annual Step-Ups (see “Annual Step-Ups” below). |
| • | For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age. |
| 1 | – | (a/b) |
| a | = | Contract value at the end of the prior valuation period |
| b | = | Withdrawal Adjustment Base at the end of the prior valuation period |
| (1) | when your contract value on a rider anniversary is less than two times the Benefit Base multiplied by the Minimum Lifetime Payment Percentage for your current Age Band, or |
| (2) | when the contract value reduces to zero. |
| 1. | At rider effective date |
| 2. | When an additional purchase payment is made |
| 3. | When a withdrawal is taken |
| (A) | The Withdrawal Adjustment Base will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal,” calculated as follows: |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal. |
| (B) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| (C) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change. |
| (D) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount as calculated below: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
| • | Annual Credits: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and duration are shown in the Rate Sheet Prospectus Supplement. |
| • | (A) | On the first rider anniversary |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date. |
| (B) | On any other rider anniversary during a Credit Period |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary. |
| (A) | if no withdrawals have been taken, the Withdrawal Adjustment Base will be set to the Benefit Base determined above, or |
| (B) | if any withdrawals have been taken, the Withdrawal Adjustment Base will be set to the amount as calculated below: |
| a × b | where: |
| c |
| a | = | the Withdrawal Adjustment Base on the rider anniversary (but prior to rider anniversary processing) |
| b | = | the Benefit Base determined above |
| c | = | the Benefit Base on the rider anniversary (but prior to rider anniversary processing) |
| • | The Benefit Base (after any Annual Credit is added) will be increased to the contract value, if greater. |
| • | The Credit Base will be increased to the contract value and the Credit Period will restart, if there is an increase to Benefit Base due to an Annual Step-Up. |
| • | If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation. |
| • | The Withdrawal Adjustment Base on rider anniversaries: If you did not decline an increase to the annual rider fee, the Withdrawal Adjustment Base (after any Annual Credit is added) will be increased to the contract value, if greater. |
| • | The Current Annual Payment is established; |
| • | The RMD is for your contract alone; |
| • | The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| • | The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and the Current Annual Payment will be paid annually until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above). |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses). |
| In both cases above: |
| • | These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. |
| • | We will no longer accept additional purchase payments. |
| • | No more charges will be collected for the rider. |
| • | The Current Annual Payment is fixed for as long as payments are made. |
| • | The amount paid in the current contract year will be reduced for any prior withdrawals in that contract year. |
| • | If the Current Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise legally permissible. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate. |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate. |
| • | Single Life: after the death benefit is payable, the rider will terminate, even if the Covered Person is still living. |
| • | Single Life: spousal continuation will terminate the rider, even if the Covered Person is still living. |
| • | Single Life: for contracts issued in California, after the death of the Covered Person, the rider will terminate. |
| • | Joint Life: for contracts issued in California, after the death of the last Covered Spouse, the rider will terminate. |
| • | Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate. |
| • | When there are certain assignment and ownership changes as described in the “Assignment and Change of Ownership” section above, the rider will terminate. |
| • | On the annuitization start date, the rider will terminate, if you choose a payout option available under the contract. |
| • | You may terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource 4 riders charge”). |
| • | When the contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | you intend to make periodic withdrawals from your annuity contract; and |
| • | you wish to ensure that market performance will not adversely affect your ability to withdraw income over your lifetime. |
| • | you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or |
| • | you want to invest in funds other than the approved investment options. For a list of currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”. |
| • | withdraw more than the allowed withdrawal amount in a contract year, or |
| • | take withdrawals before the Current Annual Payment is established. |
| • | SecureSource 4 Plus - Single Life |
| • | SecureSource 4 Plus - Joint Life |
| • | Single Life: you are 85 or younger on the date the contract is issued; or |
| • | Joint Life: you and your spouse are 85 or younger on the date the contract is issued. |
| • | Single Life: death (see “At Death” heading below). |
| • | Joint Life: the death of the last surviving Covered Spouse (see “Joint Life only: Covered Spouses” and “At Death” headings below). |
| • | The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band. |
| • | The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band. |
| • | Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the |
| date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band. | |
| • | Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band. |
| • | When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age). |
| • | On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage. |
| • | Upon Annual Step-Ups (see “Annual Step-ups” below). |
| • | For the Joint life rider, upon death or change in marital status: In the event of death or dissolution of marriage: (A) If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current Annual Payment is not established but the remaining Covered Spouse has reached the the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age. |
| 1 | – | (a/b) |
| a | = | Contract value at the end of the prior valuation period |
| b | = | Withdrawal Adjustment Base at the end of the prior valuation period |
| (1) | when your contract value on a rider anniversary is less than two times the Benefit Base multiplied by the Minimum Lifetime Payment Percentage for your current Age Band, or |
| (2) | when the contract value reduces to zero. |
| 1. | At rider effective date |
| 2. | When an additional purchase payment is made |
| The Benefit Base and Withdrawal Adjustment Base will be increased by the amount of each additional purchase payment. | |
| If the Credit Base is greater than zero, the Credit Base will be increased by the amount of each additional purchase payment. | |
| See “Buying Your Contract — Purchase Payments” for purchase payment limitations. | |
| 3. | When a withdrawal is taken |
| If the Credit Base is greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary. | |
| The Withdrawal Adjustment Base, Benefit Base and Credit Base can be adjusted, but they will not be less than zero. |
| (A) | The Withdrawal Adjustment Base will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal,” calculated as follows: |
| a × b | where: |
| c |
| a | = | the amount of the withdrawal |
| b | = | the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| c | = | the contract value on the date of (but prior to) the withdrawal. |
| (B) | If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows. |
| (C) | If the Current Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change. |
| (D) | If the Current Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount as calculated below: |
| d × e | where: |
| f |
| d | = | the amount of the withdrawal minus the Remaining Annual Payment |
| e | = | the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| f | = | the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
| • | Annual Credits: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual rider fee, Annual Credits may be available. |
| (A) | On the first rider anniversary |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date. |
| (B) | On any other rider anniversary during a Credit Period |
| • | Single Life: The Benefit Base will be increased by the Annual Credit. |
| • | Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary. |
| (A) | if no withdrawals have been taken, the Withdrawal Adjustment Base will be set to the Benefit Base determined above, or |
| (B) | if any withdrawals have been taken, the Withdrawal Adjustment Base will be set to the amount as calculated below: |
| a × b | where: |
| c |
| a | = | the Withdrawal Adjustment Base on the rider anniversary (but prior to rider anniversary processing) |
| b | = | the Benefit Base determined above |
| c | = | the Benefit Base on the rider anniversary (but prior to rider anniversary processing) |
| • | Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available. |
| The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is greater than the Benefit Base after any annual credit is added. If an annual step-up is executed, the Benefit Base, Credit Base and Lifetime Payment Percentage will be adjusted as follows: |
| • | The Benefit Base (after any Annual Credit is added) will be increased to the contract value, if greater. |
| • | The Credit Base will be increased to the contract value and the Credit Period will restart, if there is an increase to Benefit Base due to an Annual Step-Up. |
| • | If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation |
| • | The Withdrawal Adjustment Base on rider anniversaries: If you did not decline an increase to the annual rider fee, the Withdrawal Adjustment Base (after any Annual Credit is added) will be increased to the contract value, if greater. |
| • | The Current Annual Payment is established; |
| • | The RMD is for your contract alone; |
| • | The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| • | The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and the Current Annual Payment will be paid annually until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above). |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses). |
| In both cases above: |
| • | These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. |
| • | We will no longer accept additional purchase payments. |
| • | No more charges will be collected for the rider. |
| • | The amount paid in the current contract year will be reduced for any prior withdrawals in that contract year. |
| • | If the Current Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, together without interest, and/or as otherwise legally permissible. |
| • | If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate. |
| • | If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate. |
| • | elect to take the death benefit under the terms of the contract, or |
| • | continue the contract under the spousal continuation option. |
| • | Single Life: after the death benefit is payable, the rider will terminate, even if the Covered Person is still living. |
| • | Single Life: spousal continuation will terminate the rider, even if the Covered Person is still living. |
| • | Single Life: for contracts issued in California, after the death of the Covered Person, the rider will terminate. |
| • | Joint Life: for contracts issued in California, after the death of the last Covered Spouse, the rider will terminate. |
| • | Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate. |
| • | When there are certain assignment and ownership changes as described in the “Assignment and Change of Ownership” section above, the rider will terminate. |
| • | On the annuitization start date, the rider will terminate, if you choose a payout option available under the contract. |
| • | You may terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource 4 Plus rider charge”). |
| • | When the contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | Lifetime benefit Limitations: The lifetime benefit is subject to certain limitations, including but not limited to: |
| Single Life: Once the contract value equals zero, payments are made for as long as the covered person is living (see “If Contract Value Reduces to Zero” heading above). However, if the contract value is greater than zero, the lifetime benefit terminates when the death benefit is payable. |
| Joint Life: Once the contract value equals zero, payments are made for as long as either covered spouse is living (see “If Contract Value Reduces to Zero” heading above). However, if the contract value is greater than zero, the lifetime benefit terminates at the death of the last surviving covered spouse (see “At Death” heading above). | |
| • | Withdrawals: Please consider carefully when you start taking withdrawals from this rider, because the timing of your first withdrawal is an important decision. Once you take your first withdrawal, your initial Minimum Lifetime Payment Percentage or Lifetime Payment Percentage will be determined. If a withdrawal is taken during the Credit Period, no credit will be available on the next contract anniversary. For SecureSource Core Plus, if the withdrawal is taken before the Base Doubler Date the Base Doubler is permanently set to zero. Also, if you withdraw more than the allowed withdrawal amount in a contract year or take withdrawals before the Current Annual Payment is established (Excess Withdrawal), the guaranteed amounts under the rider will be reduced (See “Determination of Adjustments of Benefit Values” under each rider). |
| • | Investment Allocation Restrictions: You must invest in approved investment options which vary by rider. For SecureSource Tempo, the approved investment options are divided into groups and have specified minimum or maximum percentages of contract value that must be in each group and a maximum percentage that can be allocated to each fund. Although the funds’ investment strategies may help mitigate declines in your contract value due to declining equity markets, the funds’ investment strategies may also curb your contract value gains during periods of positive performance by the equity markets. Additionally, investment in the funds may decrease the number and amount of any benefit base increase opportunities. (See “Principal Risks of Investing in the Contracts – Managed Volatility Fund Risk”) This requirement limits your choice of investment options. This means you will not be able to allocate contract value to all of the subaccounts that are available under the contract to contract owners who do not elect the rider. (See “Investment Allocation Restrictions for Certain Benefit Riders” and “Appendix B: Funds Available Under the Optional Benefits Offered Under the Contract”) You may allocate purchase payments to the Special DCA fixed account, when available, and we will make monthly transfers into the approved investment options. You should consult your financial advisor before you purchase the SecureSource series rider. We reserve the right to add, remove, combine or substitute approved investment options in our sole discretion. We reserve the right to close or restrict approved investment options in our sole discretion. We also reserve the right to add, remove or modify allocation plans and requirements in our sole discretion. Any change will apply to current allocations, future purchase payments, and transfers. Any substitution of funds may be subject to the SEC or state insurance departments approval (see “Substitution of Investments”). |
| • | Income Guide Program Restriction: Income Guide program is not available to contracts with the SecureSource series rider. |
| • | Non-Cancelable: Once elected, the SecureSource series rider may not be cancelled (except as provided under “Rider Termination” heading above) and the charge will continue to be deducted until the contract or rider is terminated or the contract value reduces to zero (described below). |
| Dissolution of marriage does not terminate the SecureSource series — Joint Life rider and will not reduce the fee we charge for this rider. The benefit under the SecureSource series — Joint Life rider continues for the covered spouse who is the owner of the contract (or annuitant in the case of nonnatural or revocable trust ownership). The other covered spouse will no longer be eligible for benefits under the rider. The rider will terminate at the death of the contract owner because the original covered spouse will be unable to elect the spousal continuation provision of the contract (see “Joint Life only: Covered Spouses” above). | |
| • | Joint Life: Limitations on Contract Owners, Annuitants and Beneficiaries: Since the joint life benefit will terminate unless the surviving covered spouse continues the contract under the spousal option to continue the contract upon the owner’s death provision, only ownership arrangements that permit such continuation are allowed at rider issue. In general, the covered spouses should be joint owners, or one covered spouse should be the owner and the other covered spouse should be named as the sole primary beneficiary. |
| You are responsible for establishing ownership arrangements that will allow for spousal continuation. | |
| If you select the SecureSource series — Joint Life rider, please consider carefully whether or not you wish to change the beneficiary of your annuity contract. The rider will terminate if the surviving covered spouse cannot utilize the spousal continuation provision of the contract when the death benefit is payable. If the spousal continuation option is not available when the death benefit is payable, the rider will terminate. The surviving covered spouse will no longer be eligible for benefits under the rider. | |
| • | Limitations on Purchase Payments: We reserve the right to limit the cumulative amount of purchase payments (subject to state restrictions), which may limit your ability to make additional purchase payments to increase your contract value as you may have originally intended. For current purchase payment restrictions, please see “Buying Your Contract —Purchase Payments”. |
| • | Interaction with Total Free Amount (FA) contract provision: The FA is the amount you are allowed to withdraw from the contract in each contract year without incurring a surrender charge (see “Charges — Surrender Charge”). The FA may be greater than the Remaining Annual Payment under this rider. Any amount you withdraw under the contract’s FA provision that exceeds the Remaining Annual Payment is subject to the Excess Withdrawal Processing as described above. |
| • | Tax Considerations for Nonqualified Annuities: Under current federal income tax law, withdrawals under nonqualified annuities, including withdrawals taken from the contract under the terms of the rider, are treated less favorably than amounts received as annuity payments under the contract (see “Taxes — Nonqualified Annuities”). Withdrawals are taxable income to the extent of earnings. Withdrawals of earnings before age 59½ may also incur a 10% IRS early withdrawal penalty. You should consult your tax advisor before you select this optional rider if you have any questions about the use of the rider in your tax situation. |
| • | Tax Considerations for Qualified Annuities: Qualified annuities have minimum distribution rules that govern the timing and amount of distributions from the annuity contract (see “Taxes — Qualified Annuities — Required Minimum Distributions”). While the rider permits certain Excess Withdrawals to be taken for the purpose of satisfying RMD requirements for your contract alone without reducing future benefits guaranteed under the rider, there can be no guarantee that changes in the federal income tax law after the effective date of the rider will not require a larger RMD to be taken, in which case, future guaranteed withdrawals under the rider could be reduced. See Appendix F for additional information. |
| • | Treatment of non-spousal distributions: Unless you are married your beneficiary will be required to take distributions as a non-spouse which may result in significantly decreasing the value of the rider. |
| Please note civil unions and domestic partnerships generally are not recognized as marriages for federal tax purposes. For additional information see “Taxes — Other — Spousal status” section of this prospectus. | |
| • | Limitations on Tax-Sheltered Annuities (TSAs): Your right to take withdrawals is restricted if your contract is a TSA (see “TSA — Special Provisions”). Therefore, a SecureSource series rider may be of limited value to you. |
| • | Continue your contract; |
| • | Take partial surrenders or make a full surrender; or |
| • | Annuitize your contract. |
| • | You must invest in approved investment options. Current approved investment options are Portfolio Stabilizer funds. This requirement limits your choice of investment options. This means you will not be able to allocate contract value to all of the subaccounts, that are available under the contract to contract owners who do not elect the rider. (See “Investment Allocation Restrictions for Certain Benefit Riders” section below and for the list of available funds, see Appendix B: Funds Available Under the Optional Benefits Offered Under the contract – Investment Allocation Restrictions for the Accumulation Protector Benefit Rider or Enhanced Legacy Benefit) You may allocate purchase payments to the Special DCA fixed account, when available, and we will make monthly transfers into the approved investment options. You should consult your financial advisor before you purchase the Accumulation Protector Benefit rider. In addition, the Income Guide program will not be available to you (See “Making the Most of Your Contract — |
| The Income Guide Program). We reserve the right to add, remove or substitute approved investment options at any time and in our sole discretion in the future. Any substitution of funds may be subject to the SEC or state insurance departments approval (see “Substitution of Investments”); | |
| • | You may not make additional purchase payments to your contract during the Waiting Period after the first 180 days immediately following the effective date of the Accumulation Protector Benefit rider. Some exceptions apply. (see “Additional Purchase Payments with Elective Step-Up” below) In addition, we reserve the right to change these additional purchase payment limits, including making further restrictions, upon written notice; |
| • | If you purchase this contract as a qualified annuity, for example, an IRA, you may need to take partial surrenders from your contract to satisfy the RMDs under the Code. Partial surrenders, including those used to satisfy RMDs, will reduce any potential benefit that the Accumulation Protector Benefit rider provides. You should consult your tax advisor if you have any questions about the use of this rider in your tax situation; |
| • | If you think you may surrender all of your contract value before you have held your contract with this benefit rider attached for 10 years, or you are considering selecting an annuity payout option within 10 years of the effective date of your contract, you should consider whether this optional benefit is right for you. You must hold the contract a minimum of 10 years from the effective date of the Accumulation Protector Benefit rider, which is the length of the Waiting Period under the rider, in order to receive the benefit, if any, provided by the rider. In some cases, as described below, you may need to hold the contract longer than 10 years in order to qualify for any benefit the Accumulation Protector Benefit rider may provide; |
| • | The 10 year Waiting Period under the Accumulation Protector Benefit rider will restart if you exercise the elective step-up option (described below) or your surviving spouse exercises the spousal continuation elective step-up (described below); and |
| • | The 10 year Waiting Period under the Accumulation Protector Benefit rider may be restarted if you elect to change your investment option to one that causes the Accumulation Protector Benefit rider fee to increase (see “Waiting Period” below). |
| (a) | is 1 minus the ratio of the contract value on the date of (but immediately after) the partial surrender to the contract value on the date of (but immediately prior to) the partial surrender; and |
| (b) | is the MCAV on the date of (but immediately prior to) the partial surrender. |
| 1. | 90% of the contract value on the contract anniversary (after charges are deducted); or |
| 2. | the MCAV immediately prior to the automatic step-up. |
| • | The rider will terminate on the Benefit Date after the rider charge has been deducted and after any adjustment to the contract value due to payment of the rider benefit. |
| • | The rider will terminate for certain assignment and ownership changes as described in the “Assignment and Change of Ownership” provision above. |
| • | After the death benefit is payable, unless the spouse continues the contract as described in the “Spousal Continuation” provision above, the rider will terminate. |
| • | In relation to certain increases to the annual rider fee, your written request will terminate the rider. (See “Charges - Accumulation Protector Benefit rider charge”). |
| • | The rider will terminate on the annuitization start date. |
| • | Termination of the contract for any reason will terminate the rider. |
| • | the annuity payout plan you select; |
| • | the annuitant’s age and, in most cases, sex; |
| • | the annuity table in the contract; and |
| • | the amounts you allocated to the accounts on the annuitization start date. |
| • | Plan A: Life annuity — no refund: We make monthly payouts until the annuitant’s death. Payouts end with the last payout before the annuitant’s death. We will not make any further payouts. This means that if the annuitant dies after we made only one monthly payout, we will not make any more payouts. |
| • | Plan B: Life income with guaranteed period: We make monthly payouts for a guaranteed payout period of five, ten, or 15 years that you elect. This election will determine the length of the payout period in the event if the annuitant dies before the elected period expires. We calculate the guaranteed payout period from the annuitization start date. If the annuitant outlives the elected guaranteed payout period, we will continue to make payouts until the annuitant’s death. |
| • | Plan C: Life annuity — installment refund: We make monthly payouts until the annuitant’s death, with our guarantee that payouts will continue for some period of time. We will make payouts for at least the number of months determined by dividing the amount applied under this option by the first monthly payout, whether or not the annuitant is living. |
| • | Plan D: Joint and last survivor life annuity — no refund: We make monthly payouts while both the annuitant and a joint annuitant are living. If either annuitant dies, we will continue to make monthly payouts at the full amount until the death of the surviving annuitant. Payouts end with the death of the second annuitant. |
| • | in equal or substantially equal payments over a period not longer than your life expectancy or over the joint life expectancy of you and your designated beneficiary; or |
| • | over a period certain not longer than your life expectancy or over the life expectancy of you and your designated beneficiary. |
| • | because of your death or in the event of nonnatural ownership, the death of the annuitant; |
| • | because you become disabled (as defined in the Code); |
| • | if the distribution is part of a series of substantially equal periodic payments, made at least annually, over your life or life expectancy (or joint lives or life expectancies of you and your beneficiary); |
| • | if it is allocable to an investment before Aug. 14, 1982; or |
| • | if annuity payouts are made under immediate annuities as defined by the Code. |
| • | the payout is one in a series of substantially equal periodic payouts, made at least annually, over your life or life expectancy (or the joint lives or life expectancies of you and your designated beneficiary) or over a specified period of 10 years or more; |
| • | the payout is a RMD as defined under the Code; |
| • | the payout is made on account of an eligible hardship; or |
| • | the payout is a corrective distribution. |
| • | because of your death; |
| • | because you become disabled (as defined in the Code); |
| • | if the distribution is part of a series of substantially equal periodic payments made at least annually, over your life or life expectancy (or joint lives or life expectancies of you and your beneficiary); |
| • | if the distribution is made following severance from employment during or after the calendar year in which you attain age 55 (TSAs and annuities funding 401(a) plans only); |
| • | to pay certain medical or education expenses (IRAs only); or |
| • | if the distribution is made from an inherited IRA. |
| • | the reserve held in each subaccount for your contract; divided by |
| • | the net asset value of one share of the applicable fund. |
| • | laws or regulations change; |
| • | the existing funds become unavailable; or |
| • | in our judgment, the funds no longer are suitable (or no longer the most suitable) for the Subaccounts. |
| • | add new Subaccounts; |
| • | combine any two or more Subaccounts; |
| • | transfer assets to and from the Subaccounts or the Variable Account; and |
| • | eliminate or close any Subaccounts. |
| • | Only securities broker-dealers (“selling firms”) registered with the SEC and members of the FINRA may sell the contract. |
| • | The contracts are continuously offered to the public through authorized selling firms. We and RiverSource Distributors have a sales agreement with the selling firm. The sales agreement authorizes the selling firm to offer the contracts to the public. RiverSource Distributors pays the selling firm (or an affiliated insurance agency) for contracts its financial advisors sell. The selling firm may be required to return sales commissions under certain circumstances including but not limited to when contracts are returned under the free look period. |
| • | We may use compensation plans which vary by selling firm. For example, some of these plans pay selling firms a commission of up to 6.00% each time a purchase payment is made. We may pay ongoing trail commissions of up to 1.25% of the contract value. We do not pay or withhold payment of commissions based on which investment options you select. |
| • | We may pay selling firms a temporary additional sales commission of up to 1% of purchase payments for a period of time we select. For example, we may offer to pay a temporary additional sales commission to get selling firms to market a new or enhanced contract or to increase sales during the period. |
| • | In addition to commissions, we may, in order to promote sales of the contracts, and as permitted by applicable laws and regulations, pay or provide selling firms with other promotional incentives in cash, credit or other compensation. We generally (but may not) offer these promotional incentives to all selling firms. The terms of such arrangements differ between selling firms. These promotional incentives may include but are not limited to: |
| • | sponsorship of marketing, educational, due diligence and compliance meetings and conferences we or the selling firm may conduct for financial advisors, including subsidy of travel, meal, lodging, entertainment and other expenses related to these meetings; |
| • | marketing support related to sales of the contract including for example, the creation of marketing materials, advertising and newsletters; |
| • | providing service to contract owners; and |
| • | funding other events sponsored by a selling firm that may encourage the selling firm’s financial advisors to sell the contract. |
| • | revenues we receive from fees and expenses that you will pay when buying, owning and surrendering the contract (see “Expense Summary”); |
| • | compensation we or an affiliate receive from the underlying funds in the form of distribution and services fees (see “The Variable Account and the Funds - The funds”); |
| • | compensation we or an affiliate receive from a fund’s investment adviser, subadviser, distributor or an affiliate of any of these (see “The Variable Account and the Funds - The funds”); and |
| • | revenues we receive from other contracts and policies we sell that are not securities and other businesses we conduct. |
| • | fees and expenses we collect from contract owners , including surrender charges; and |
| • | fees and expenses charged by the underlying funds in which the subaccounts you select invest, to the extent we or one of our affiliates receive revenue from the funds or an affiliated person. |
| • | give selling firms a heightened financial incentive to sell the contract offered in this prospectus over another investment with lower compensation to the selling firm. |
| • | cause selling firms to encourage their financial advisors to sell you the contract offered in this prospectus instead of selling you other alternative investments that may result in lower compensation to the selling firm. |
| • | cause selling firms to grant us access to its financial advisors to promote sales of the contract offered in this prospectus, while denying that access to other firms offering similar contracts or other alternative investments which may pay lower compensation to the selling firm. |
| • | The selling firm pays its financial advisors. The selling firm decides the compensation and benefits it will pay its financial advisors. |
| • | To inform yourself of any potential conflicts of interest, ask your financial advisor before you buy how the selling firm and its financial advisors are being compensated and the amount of the compensation that each will receive if you buy the contract. |
| Name of Service Provider | Services Provided | Address |
| Ameriprise Financial, Inc. | Business affairs management and administrative support related to new business and servicing of existing contracts and policies | 707 Second Avenue South Minneapolis MN 55402 USA |
| Ameriprise India Private Limited | Administrative support related to new business and servicing of existing contracts and policies annual report filings | Plot No. 14, Sector 18 Udyog Vihar Gurugram, Haryana – 122 015 India |
| Sykes Enterprise Incorporated | Administrative support related to e new business and servicing of existing contracts and policies | 10 th Floor, Glorietta BPO 1 Office Tower Makati City 1224 Metro Manila Philippines |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks to maximize total return consistent with AllianceBernstein's determination of reasonable risk. | AB
VPS Dynamic Asset Allocation Portfolio (Class B)1 AllianceBernstein L.P. |
1.07% 2 | 9.28% | 6.94% | 6.04% |
| Seeks long-term growth of capital. | AB
VPS Large Cap Growth Portfolio (Class B) AllianceBernstein L.P. |
0.90% | 28.65% | 25.78% | 20.52% |
| Seeks long-term capital appreciation. | Allspring
VT Opportunity Fund - Class 2 Allspring Funds Management, LLC, adviser; Allspring Global Investments, LLC, sub-adviser. |
1.00% 2 | 24.78% | 17.29% | 14.94% |
| Seeks long-term capital appreciation. | Allspring
VT Small Cap Growth Fund - Class 2 Allspring Funds Management, LLC, adviser; Allspring Global Investments, LLC, sub-adviser. |
1.17% | 7.64% | 22.00% | 16.23% |
| The Portfolio seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the Alerian Midstream Energy Select Index (the "Index"). | ALPS
| Alerian Energy Infrastructure Portfolio: Class III ALPS Advisors, Inc. |
1.30% 2 | 37.77% | (0.04%) | - |
| Seeks long-term capital growth. Income is a secondary objective. | American
Century VP Value, Class II American Century Investment Management, Inc. |
0.88% 2 | 24.28% | 9.39% | 11.88% |
| Seeks high total investment return. | BlackRock
Global Allocation V.I. Fund (Class III) BlackRock Advisors, LLC, adviser; BlackRock (Singapore) Limited, sub-adviser. |
1.00% 2 | 6.42% | 9.71% | 7.68% |
| Seeks maximum total investment return through a combination of capital growth and current income. | Columbia
Variable Portfolio - Balanced Fund (Class 2) (available for contract applications signed on or after 5/3/2021) Columbia Management Investment Advisers, LLC |
1.00% | 17.47% | 10.51% | 10.04% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks maximum total investment return through a combination of capital growth and current income. | Columbia
Variable Portfolio - Balanced Fund (Class 3) (available for contract applications signed prior to 5/3/2021) Columbia Management Investment Advisers, LLC |
0.88% | 17.58% | 10.61% | 10.17% |
| Seeks to provide shareholders with total return. | Columbia
Variable Portfolio - Commodity Strategy Fund (Class 2) Columbia Management Investment Advisers, LLC |
1.00% 2 | (1.55%) | 0.80% | - |
| Seeks total return, consisting of long-term capital appreciation and current income. | Columbia
Variable Portfolio - Contrarian Core Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.93% 2 | 22.00% | 14.16% | - |
| Seeks to provide shareholders with capital appreciation. | Columbia
Variable Portfolio - Disciplined Core Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.92% | 13.85% | 12.75% | 12.91% |
| Seeks to provide shareholders with a high level of current income and, as a secondary objective, steady growth of capital. | Columbia
Variable Portfolio - Dividend Opportunity Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.96% 2 | 0.90% | 8.72% | 8.27% |
| Non-diversified fund that seeks to provide shareholders with high total return through current income and, secondarily, through capital appreciation. | Columbia
Variable Portfolio - Emerging Markets Bond Fund (Class 2) Columbia Management Investment Advisers, LLC |
1.01% | 7.16% | 6.66% | - |
| Seeks to provide shareholders with long-term capital growth. | Columbia
Variable Portfolio - Emerging Markets Fund (Class 2) Columbia Management Investment Advisers, LLC |
1.37% 2 | 33.31% | 16.09% | 5.72% |
| Seeks to provide shareholders with high total return through income and growth of capital. | Columbia
Variable Portfolio - Global Strategic Income Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.91% 2 | 4.59% | 2.68% | 0.99% |
| Seeks to provide shareholders with maximum current income consistent with liquidity and stability of principal. | Columbia
Variable Portfolio - Government Money Market Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.70% 2 | 0.24% | 0.67% | 0.34% |
| Seeks to provide shareholders with high current income as its primary objective and, as its secondary objective, capital growth. | Columbia
Variable Portfolio - High Yield Bond Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.91% 2 | 6.31% | 7.11% | 6.40% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks to provide shareholders with a high total return through current income and capital appreciation. | Columbia
Variable Portfolio - Income Opportunities Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.89% 2 | 5.67% | 6.77% | 6.16% |
| Seeks to provide shareholders with a high level of current income while attempting to conserve the value of the investment for the longest period of time. | Columbia
Variable Portfolio - Intermediate Bond Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.74% | 12.28% | 5.81% | 4.53% |
| Seeks to provide shareholders with long-term capital growth. | Columbia
Variable Portfolio - Large Cap Growth Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.96% | 34.41% | 17.66% | 15.48% |
| Seeks to provide shareholders with long-term capital appreciation. | Columbia
Variable Portfolio - Large Cap Index Fund (Class 2) (available for contract applications signed on or after 5/3/2021) Columbia Management Investment Advisers, LLC |
0.50% | 17.74% | 14.58% | 13.24% |
| Seeks to provide shareholders with long-term capital appreciation. | Columbia
Variable Portfolio - Large Cap Index Fund (Class 3) (available for contract applications signed prior to 5/3/2021) Columbia Management Investment Advisers, LLC |
0.38% | 17.85% | 14.73% | 13.38% |
| Seeks to provide shareholders with a level of current income consistent with preservation of capital. | Columbia
Variable Portfolio - Limited Duration Credit Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.70% 2 | 5.57% | 3.99% | 2.68% |
| Seeks total return, consisting of current income and capital appreciation. | Columbia
Variable Portfolio - Long Government/Credit Bond Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.75% | 17.07% | 8.58% | - |
| Seeks to provide shareholders with capital appreciation. | Columbia
Variable Portfolio - Overseas Core Fund (Class 2) Columbia Management Investment Advisers, LLC |
1.03% | 8.83% | 6.19% | 4.96% |
| Seeks to provide shareholders with long-term growth of capital. | Columbia
Variable Portfolio - Select Large Cap Value Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.93% | 6.81% | 11.29% | 11.15% |
| Seeks to provide shareholders with growth of capital. | Columbia
Variable Portfolio - Select Mid Cap Growth Fund (Class 2) (previously Columbia Variable Portfolio - Mid Cap Growth Fund (Class 1)) Columbia Management Investment Advisers, LLC |
1.09% 2 | 35.08% | 16.72% | 11.67% |
| Seeks to provide shareholders with long-term growth of capital. | Columbia
Variable Portfolio - Select Mid Cap Value Fund (Class 2) Columbia Management Investment Advisers, LLC |
1.08% 2 | 7.25% | 9.44% | 9.53% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks to provide shareholders with long-term capital growth. | Columbia
Variable Portfolio - Select Small Cap Value Fund (Class 2) Columbia Management Investment Advisers, LLC |
1.10% 2 | 8.92% | 7.27% | 8.76% |
| Seeks total return, consisting of current income and capital appreciation. | Columbia
Variable Portfolio - Strategic Income Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.93% 2 | 6.62% | 6.16% | 5.03% |
| Seeks to provide shareholders with current income as its primary objective and, as its secondary objective, preservation of capital. | Columbia
Variable Portfolio - U.S. Government Mortgage Fund (Class 2) Columbia Management Investment Advisers, LLC |
0.70% | 4.85% | 3.66% | 2.56% |
| Seeks to provide shareholders with a high level of current income. | CTIVP
® - American Century Diversified Bond Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; American Century Investment Management, Inc., subadviser. |
0.74% | 8.24% | 4.81% | 3.85% |
| Non-diversified fund that seeks to provide shareholders with total return that exceeds the rate of inflation over the long term. | CTIVP
® - BlackRock Global Inflation-Protected Securities Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; BlackRock Financial Management, Inc., subadviser; BlackRock International Limited, sub-subadviser. |
0.85% 2 | 8.97% | 5.28% | 4.22% |
| Seeks to provide shareholders with current income and capital appreciation. | CTIVP
® - CenterSquare Real Estate Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; CenterSquare Investment Management LLC, subadviser. |
1.05% | (5.18%) | 4.52% | 5.45% |
| Seeks to provide shareholders with long-term capital growth. | CTIVP
® - MFS® Value Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; Massachusetts Financial Services Company, subadviser. |
0.93% 2 | 3.33% | 9.90% | 10.60% |
| Seeks to provide shareholders with long-term capital growth. | CTIVP
® - Morgan Stanley Advantage Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; Morgan Stanley Investment Management Inc., subadviser. |
0.92% | 75.49% | 25.50% | 17.60% |
| Seeks to provide shareholders with long-term capital growth. | CTIVP
® - Principal Blue Chip Growth Fund (Class 2) (previously CTIVP® - Loomis Sayles Growth Fund
(Class 2)) Columbia Management Investment Advisers, LLC, adviser; Principal Global Investors, LLC, subadviser. |
0.93% | 31.61% | 18.72% | 15.61% |
| Seeks to provide shareholders with long-term growth of capital and income. | CTIVP
® - T. Rowe Price Large Cap Value Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; T. Rowe Price Associates, Inc., subadviser. |
0.93% | 2.47% | 9.13% | 8.83% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks to provide shareholders with total return through current income and capital appreciation. | CTIVP
® - TCW Core Plus Bond Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; TCW Investment Management Company LLC, subadviser. |
0.73% | 8.67% | 4.43% | 3.15% |
| Seeks to provide shareholders with long-term growth of capital. | CTIVP
® - Victory Sycamore Established Value Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; Victory Capital Management Inc., subadviser. |
1.05% | 7.80% | 11.50% | 11.07% |
| Seeks to provide shareholders with long-term capital growth. | CTIVP
® - Westfield Mid Cap Growth Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; Westfield Capital Management Company, L.P., subadviser. |
1.09% | 27.18% | 17.13% | 13.42% |
| Seeks to provide total return. | Delaware
Ivy VIP Asset Strategy, Class II (previously Ivy VIP Asset Strategy, Class II) Ivy Investment Management Company |
0.87% 2 | 10.44% | 11.36% | 8.01% |
| Seeks capital appreciation. | DWS
Alternative Asset Allocation VIP, Class B3 DWS Investment Management Americas Inc., adviser; RREEF America L.L.C., subadvisor. |
1.26% | 12.35% | 5.59% | 3.89% |
| Seeks long-term capital appreciation. | Fidelity
® VIP Contrafund® Portfolio Service Class 2 Fidelity Management & Research Company (the Adviser) is the fund’s manager. Fidelity Management & Research Company (UK) Limited, Fidelity Management & Research Company (Hong Kong) Limited, Fidelity Management & Research Company (Japan) Limited, subadvisers. |
0.85% | 27.51% | 19.87% | 16.35% |
| Seeks long-term growth of capital. | Fidelity
® VIP Mid Cap Portfolio Service Class 2 Fidelity Management & Research Company (the Adviser) is the fund’s manager. Fidelity Management & Research Company (UK) Limited, Fidelity Management & Research Company (Hong Kong) Limited, Fidelity Management & Research Company (Japan) Limited, subadvisers. |
0.86% | 25.31% | 13.32% | 13.00% |
| Seeks a high level of current income and may also seek capital appreciation. | Fidelity
® VIP Strategic Income Portfolio Service Class 2 Fidelity Management & Research Company (the Adviser) is the fund’s manager. Fidelity Management & Research Company (UK) Limited, Fidelity Management & Research Company (Hong Kong) Limited, Fidelity Management & Research Company (Japan) Limited, FIL Investment Advisers, FIL Investment Advisers (UK) Limited and FIL Investments (Japan) Limited, subadvisers. |
0.91% | 3.44% | 5.11% | 4.47% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks to maximize income while maintaining prospects for capital appreciation. Under normal market conditions, the fund invests in a diversified portfolio of equity and debt securities. | Franklin
Income VIP Fund - Class 2 Franklin Advisers, Inc. |
0.72% | 16.75% | 7.45% | 7.38% |
| Seeks capital appreciation, with income as a secondary goal. Under normal market conditions, the fund invests primarily in U.S. and foreign equity securities that the investment manager believes are undervalued. | Franklin
Mutual Shares VIP Fund - Class 2 Franklin Mutual Advisers, LLC |
0.98% | 19.17% | 6.44% | 9.00% |
| Seeks long-term total return. Under normal market conditions, the fund invests at least 80% of its net assets in investments of small capitalization companies. | Franklin
Small Cap Value VIP Fund - Class 2 Franklin Mutual Advisers, LLC |
0.91% | 25.37% | 9.94% | 12.13% |
| Seeks long-term growth of capital. | Goldman
Sachs VIT Multi-Strategy Alternatives Portfolio - Advisor Shares3 Goldman Sachs Asset Management, L.P. |
1.40% 2 | 4.66% | 3.42% | - |
| Seeks total return with a low to moderate correlation to traditional financial market indices. | Invesco
V.I. Balanced-Risk Allocation Fund, Series II Shares Invesco Advisers, Inc. |
1.13% 2 | 9.26% | 7.18% | 5.99% |
| Seeks capital appreciation. | Invesco
V.I. Global Fund, Series II Shares Invesco Advisers, Inc. |
1.03% | 15.17% | 17.88% | 13.96% |
| Seeks total return | Invesco
V.I. Global Strategic Income Fund, Series II Shares Invesco Advisers, Inc. |
1.12% 2 | (3.56%) | 2.15% | 2.90% |
| Seeks capital appreciation. | Invesco
V.I. Main Street Small Cap Fund®, Series II Shares Invesco Advisers, Inc. |
1.09% | 22.26% | 13.46% | 14.40% |
| Seeks long-term capital growth, consistent with preservation of capital and balanced by current income. | Janus
Henderson Balanced Portfolio: Service Shares Janus Henderson Investors US LLC |
0.86% | 16.91% | 14.10% | 11.53% |
| Seeks to obtain maximum total return, consistent with preservation of capital. | Janus
Henderson Flexible Bond Portfolio: Service Shares Janus Henderson Investors US LLC |
0.82% 2 | (1.11%) | 3.98% | 3.43% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks long-term growth of capital. | Janus
Henderson Research Portfolio: Service Shares Janus Henderson Investors US LLC |
0.85% | 20.05% | 21.68% | 17.16% |
| Seeks long-term capital appreciation. | Lazard
Retirement Global Dynamic Multi-Asset Portfolio - Service Shares1 Lazard Asset Management, LLC |
1.06% 2 | 11.94% | 8.40% | - |
| Seeks total return. | MFS
® Utilities Series - Service Class Massachusetts Financial Services Company |
1.03% 2 | 13.82% | 11.61% | 9.65% |
| The Fund seeks long-term capital growth by investing primarily in common stocks and other equity securities. | Morgan
Stanley VIF Discovery Portfolio, Class II Shares Morgan Stanley Investment Management Inc. |
1.05% 2 | (11.19%) | 36.85% | 20.11% |
| Seeks long-term growth of capital by investing primarily in securities of companies that meet the Fund's environmental, social and governance (ESG) criteria. | Neuberger
Berman AMT Sustainable Equity Portfolio (Class S) Neuberger Berman Investment Advisers LLC |
1.16% | 23.16% | 15.43% | 14.11% |
| Seeks long-term growth of capital and income generation. | Neuberger
Berman AMT U.S. Equity Index PutWrite Strategy Portfolio (Class S) Neuberger Berman Investment Advisers LLC |
1.06% 2 | 17.94% | 7.91% | - |
| Seeks maximum real return, consistent with preservation of real capital and prudent investment management. | PIMCO
VIT All Asset Portfolio, Advisor Class3 Pacific Investment Management Company LLC (PIMCO) |
1.34% 2 | 16.04% | 8.45% | 5.91% |
| Seeks total return which exceeds that of a blend of 60% MSCI World Index/40% Barclays U.S. Aggregate Index. | PIMCO
VIT Global Managed Asset Allocation Portfolio, Advisor Class3 Pacific Investment Management Company LLC (PIMCO) |
1.21% 2 | 12.60% | 10.59% | 6.03% |
| Seeks maximum total return, consistent with preservation of capital and prudent investment management. | PIMCO
VIT Total Return Portfolio, Advisor Class Pacific Investment Management Company LLC (PIMCO) |
0.75% | (1.36%) | 3.83% | 3.33% |
| Seeks high current income, consistent with preservation of capital, with capital appreciation as a secondary consideration. Under normal market conditions, the fund invests at least 80% of its net assets in debt securities of any maturity. | Templeton
Global Bond VIP Fund - Class 2 Franklin Advisers, Inc. |
0.76% 2 | (4.99%) | (0.94%) | 1.13% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks long-term capital appreciation by investing in common stocks of gold-mining companies. The Fund may take current income into consideration when choosing investments. | VanEck
VIP Global Gold Fund (Class S Shares) Van Eck Associates Corporation |
1.45% 2 | (14.01%) | 9.25% | - |
| Seeks to provide a high level of total return that is consistent with an aggressive level of risk. | Variable
Portfolio - Aggressive Portfolio (Class 2)3 Columbia Management Investment Advisers, LLC |
1.04% | 14.99% | 9.99% | 8.41% |
| Seeks to provide a high level of total return that is consistent with a conservative level of risk. | Variable
Portfolio - Conservative Portfolio (Class 2)3 Columbia Management Investment Advisers, LLC |
0.89% | 9.30% | 5.47% | 4.50% |
| Pursues total return while seeking to manage the Fund's exposure to equity market volatility. | Variable
Portfolio - Managed Risk Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
1.04% | 7.79% | - | - |
| Pursues total return while seeking to manage the Fund's exposure to equity market volatility. | Variable
Portfolio - Managed Risk U.S. Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
0.99% | 9.79% | - | - |
| Pursues total return while seeking to manage the Fund's exposure to equity market volatility. | Variable
Portfolio - Managed Volatility Conservative Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
0.95% | 8.12% | 5.56% | - |
| Pursues total return while seeking to manage the Fund's exposure to equity market volatility. | Variable
Portfolio - Managed Volatility Conservative Growth Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
0.98% | 9.15% | 6.44% | - |
| Pursues total return while seeking to manage the Fund's exposure to equity market volatility. | Variable
Portfolio - Managed Volatility Growth Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
1.02% | 11.30% | 8.08% | - |
| Pursues total return while seeking to manage the Fund’s exposure to equity market volatility. | Variable
Portfolio - Managed Volatility Moderate Growth Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
0.98% | 10.37% | 7.38% | - |
| Seeks to provide a high level of total return that is consistent with a moderate level of risk. | Variable
Portfolio - Moderate Portfolio (Class 2)3 Columbia Management Investment Advisers, LLC |
0.95% | 12.86% | 7.96% | 6.61% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks to provide a high level of total return that is consistent with a moderately aggressive level of risk. | Variable
Portfolio - Moderately Aggressive Portfolio (Class 2)3 Columbia Management Investment Advisers, LLC |
0.99% | 14.03% | 9.00% | 7.51% |
| Seeks to provide a high level of total return that is consistent with a moderately conservative level of risk. | Variable
Portfolio - Moderately Conservative Portfolio (Class 2)3 Columbia Management Investment Advisers, LLC |
0.92% | 11.00% | 6.68% | 5.54% |
| Seeks to provide shareholders with a high level of current income while conserving the value of the investment for the longest period of time. | Variable
Portfolio - Partners Core Bond Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; J.P. Morgan Investment Management Inc. and Allspring Global Investments, LLC, subadvisers. |
0.72% | 7.97% | 4.26% | 3.54% |
| Seeks to provide shareholders with long-term capital growth. | Variable
Portfolio - Partners Core Equity Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; J.P. Morgan Investment Management Inc. and T. Rowe Price Associates, Inc., subadvisers. |
0.93% | 16.73% | 12.22% | 10.54% |
| Seeks to provide shareholders with long-term growth of capital. | Variable
Portfolio - Partners International Core Equity Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; Schroder Investment Management North America Inc., subadviser; Schroder Investment Management North America Limited, sub-subadviser. |
1.05% | 10.96% | 5.24% | 4.28% |
| Seeks to provide shareholders with long-term capital growth. | Variable
Portfolio - Partners International Growth Fund (Class 2) Columbia Management Investment Advisers LLC, adviser; William Blair Investment Management, LLC and Walter Scott & Partners Limited, subadvisers. |
1.12% 2 | 22.30% | 8.80% | 6.58% |
| Seeks to provide shareholders with long-term capital growth. | Variable
Portfolio - Partners International Value Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; Pzena Investment Management, LLC and Thompson, Siegel & Walmsley LLC, subadvisers. |
1.09% 2 | (4.14%) | 3.89% | 1.50% |
| Seeks to provide shareholders with long-term capital growth. | Variable
Portfolio - Partners Small Cap Growth Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; Scout Investments, Inc. and Allspring Global Investments, LLC, subadvisers. |
1.10% 2 | 38.43% | 14.96% | 11.30% |
| Investment Objective | Fund
and Adviser/Sub-Adviser |
Current
Expenses |
Average
Annual Total Returns (as of 12/31/2021) | ||
| 1 Year | 5 Year | 10 Year | |||
| Seeks to provide shareholders with long-term capital appreciation. | Variable
Portfolio - Partners Small Cap Value Fund (Class 2) Columbia Management Investment Advisers, LLC, adviser; Segall Bryant & Hamill, LLC and William Blair Investment Management, LLC, subadvisers. |
1.11% 2 | 3.99% | 7.52% | 6.81% |
| Pursues total return while seeking to manage the Fund's exposure to equity market volatility. | Variable
Portfolio - U.S. Flexible Conservative Growth Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
0.94% | 5.87% | - | - |
| Pursues total return while seeking to manage the Fund's exposure to equity market volatility. | Variable
Portfolio - U.S. Flexible Growth Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
0.93% | 4.80% | - | - |
| Pursues total return while seeking to manage the Fund's exposure to equity market volatility. | Variable
Portfolio - U.S. Flexible Moderate Growth Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
0.93% | 5.53% | - | - |
| Seeks to maximize total return. | Western
Asset Variable Global High Yield Bond Portfolio - Class II Legg Mason Partners Fund Adviser, LLC; Western Asset Management Company, LLC, Western Asset Management Company Limited & Western Asset Management Pte. Ltd., sub-advisors. |
1.07% | 1.04% | 5.10% | 5.53% |
| 1 | This Fund is managed in a way that is intended to minimize volatility of returns. See “Principal Risks of Investing in the Contract.” |
| 2 | This Fund and its investment adviser and/or affiliates have entered into a temporary expense reimbursement arrangement and/or fee waiver. The Fund’s annual expenses reflect temporary fee reductions. Please see the Fund’s prospectus for additional information. |
| 3 | This Fund is a fund of funds and invests substantially all of its assets in other underlying funds. Because the Fund invests in other funds, it will bear its pro rata portion of the operating expenses of those underlying funds, including management fees. |
| 1. | Variable Portfolio – Managed Risk Fund (Class 2) |
| 2. | Variable Portfolio – Managed Risk U.S. Fund (Class 2) |
| 3. | Variable Portfolio – Managed Volatility Growth Fund (Class 2) |
| 4. | Variable Portfolio – Managed Volatility Moderate Growth Fund (Class 2) |
| 5. | Variable Portfolio – Managed Volatility Conservative Growth Fund (Class 2) |
| 6. | Variable Portfolio – Managed Volatility Conservative Fund (Class 2) |
| 7. | Variable Portfolio – U.S. Flexible Growth Fund (Class 2) |
| 8. | Variable Portfolio – U.S. Flexible Moderate Growth Fund (Class 2) |
| 9. | Variable Portfolio – U.S. Flexible Conservative Growth Fund (Class 2) |
| 1. | Columbia Variable Portfolio – Balanced Fund (Class 2) |
| 2. | Variable Portfolio – Managed Risk Fund (Class 2) |
| 3. | Variable Portfolio – Managed Risk U.S. Fund (Class 2) |
| 4. | Variable Portfolio – Managed Volatility Growth Fund (Class 2) |
| 5. | Variable Portfolio – Managed Volatility Moderate Growth Fund (Class 2) |
| 6. | Variable Portfolio – Managed Volatility Conservative Growth Fund (Class 2) |
| 7. | Variable Portfolio – Managed Volatility Conservative Fund (Class 2) |
| 8. | Variable Portfolio – U.S. Flexible Growth Fund (Class 2) |
| 9. | Variable Portfolio – U.S. Flexible Moderate Growth Fund (Class 2) |
| 10. | Variable Portfolio – U.S. Flexible Conservative Growth Fund (Class 2) |
| 11. | Variable Portfolio – Aggressive Portfolio (Class 2) |
| 12. | Variable Portfolio – Moderately Aggressive Portfolio (Class 2) |
| 13. | Variable Portfolio – Moderate Portfolio (Class 2) |
| 14. | Variable Portfolio – Moderately Conservative Portfolio (Class 2) |
| 15. | Variable Portfolio – Conservative Portfolio (Class 2) |
| 1. | Columbia Variable Portfolio – Intermediate Bond Fund (Class 2) |
| 2. | Columbia Variable Portfolio – Limited Duration Credit Fund (Class 2) |
| 3. | Columbia Variable Portfolio – U.S. Government Mortgage Fund (Class 2) |
| 4. | CTIVP – American Century Diversified Fund (Class 2) |
| 5. | CTIVP – TCW Core Plus Bond Fund (Class 2) |
| 6. | Variable Portfolio – Partners – Core Bond Fund (Class 2) |
| 7. | Columbia variable Portfolio – Government Money Market Fund (Class 2) |
| 1. | Variable Portfolio – Managed Volatility Growth Fund (Class 2) |
| 2. | Variable Portfolio – Managed Volatility Moderate Growth Fund (Class 2) |
| 3. | Variable Portfolio – Managed Volatility Conservative Growth Fund (Class 2) |
| 4. | Variable Portfolio – Managed Volatility Conservative Fund (Class 2) |
| 5. | Variable Portfolio –U.S. Flex Growth Fund (Class 2) |
| 6. | Variable Portfolio –U.S. Flex Moderate Growth Fund (Class 2) |
| 7. | Variable Portfolio –U.S. Flex Conservative Fund (Class 2) |
| 8. | Variable Portfolio – Managed Risk Fund (Class 2) |
| 9. | Variable Portfolio – Managed Risk U.S. Fund (Class 2) |
| 10. | Variable Portfolio – Aggressive Portfolio (Class 2) |
| 11. | Variable Portfolio – Moderately Aggressive Portfolio (Class 2) |
| 12. | Variable Portfolio – Moderate Portfolio (Class 2) |
| 13. | Variable Portfolio – Moderately Conservative Portfolio (Class 2) |
| 14. | Variable Portfolio – Conservative Portfolio (Class 2) |
| 15. | Columbia Variable Portfolio – Balanced Fund (Class 2) |
| 1. | Columbia Variable Portfolio – Contrarian Core Fund (Class 2) |
| 2. | Columbia Variable Portfolio – Disciplined Core Fund (Class 2) |
| 3. | Columbia Variable Portfolio – Dividend Opportunity Fund (Class 2) |
| 4. | Columbia Variable Portfolio – Large-Cap Growth Fund (Class 2) |
| 5. | Columbia Variable Portfolio – Large-Cap Index Fund (Class 2) |
| 6. | Columbia Variable Portfolio – Select Large-Cap Value Fund (Class 2) |
| 7. | CTIVP – Loomis Sayles Growth Fund (Class 2) |
| 8. | CTIVP – MFS Value Fund (Class 2) |
| 9. | CTIVP – T. Rowe Price Large-Cap Value Fund (Class 2) |
| 10. | Variable Portfolio – Partners Core Equity Fund (Class 2) |
| 11. | Columbia Variable Portfolio – Overseas Core Fund (Class 2) |
| 12. | Variable Portfolio – Partners International Core Equity Fund (Class 2) |
| 13. | Variable Portfolio – Partners International Growth Fund (Class 2) |
| 14. | Variable Portfolio – Partners International Value Fund (Class 2) |
| 1. | CTIVP - Morgan Stanley Advantage Fund (Class 2) |
| 2. | Columbia Variable Portfolio - Mid Cap Growth Fund (Class 2) |
| 3. | Columbia Variable Portfolio - Select Mid Cap Value Fund (Class 2) |
| 4. | CTIVP - Victory Sycamore Established Value Fund (Class 2) |
| 5. | CTIVP - Westfield Mid Cap Growth Fund (Class 2) |
| 6. | Columbia Variable Portfolio - Select Small-Cap Value Fund (Class 2) |
| 7. | Variable Portfolio - Partners Small Cap Growth Fund (Class 2) |
| 8. | Variable Portfolio - Partners Small Cap Value Fund (Class 2) |
| 9. | Columbia Variable Portfolio - Emerging Markets Fund (Class 2) |
| PPS | = | PPSC + PPF |
| PPSC | = | purchase payments surrendered that could be subject to a surrender charge |
| = | (PS – FA) / (CV – FA) × (PP – PPF) | |
| PPF | = | purchase payments surrendered that are not subject to a surrender charge |
| = | FA – contract earnings, but not less than zero | |
| PP | = | purchase payments not previously surrendered (total purchase payments – PPS from all previous surrenders) |
| PS | = | amount the contract value is reduced by the surrender |
| FA | = | total free amount = greater of contract earnings or 10% of prior anniversary’s contract value |
| CV | = | contract value prior to the surrender |
| • | We receive a single $50,000 purchase payment; |
| • | During the fourth contract year you surrender the contract for its total value. The surrender charge percentage in the fourth contract year is 6.00%; and |
| • | You have made no prior surrenders. |
| Contract
with Gain |
Contract
with Loss | ||||
| Contract value just prior to surrender: | $60,000.00 | $40,000.00 | |||
| Contract value on prior anniversary: | 58,000.00 | 42,000.00 | |||
| We calculate the surrender charge as follows: | |||||
| Step 1. | First, we determine the amount of earnings available in the contract at the time of surrender as: | ||||
| Contract value just prior to surrender (CV): | 60,000.00 | 40,000.00 | |||
| Less purchase payments received and not previously surrendered (PP): | 50.000.00 | 50.000.00 | |||
| Earnings in the contract (but not less than zero): | 10,000.00 | 0.00 | |||
| Step 2. | Next, we determine the total free amount (FA) available in the contract as the greatest of the following values: | ||||
| Earnings in the contract: | 10,000.00 | 0.00 | |||
| 10% of the prior anniversary’s contract value: | 5,800.00 | 4,200.00 | |||
| FA (but not less than zero): | 10,000.00 | 4,200.00 | |||
| Step 3. | Next we determine PPF, the amount by which the total free amount (FA) exceeds earnings. | ||||
| Total free amount (FA): | 10,000.00 | 4,200.00 | |||
| Less earnings in the contract: | 10,000.00 | 0.00 | |||
| PPF (but not less than zero): | 0.00 | 4,200.00 | |||
| Step 4. | Next we determine PS, the amount by which the contract value is reduced by the surrender. | ||||
| Contract
with Gain |
Contract
with Loss | ||||
| PS: | 60,000.00 | 40,000.00 | |||
| Step 5. | Now we can determine how much of the PP is being surrendered (PPS) as follows: | ||||
| PPS | = PPF + PPSC | ||||
| = PPF + (PS − FA) / (CV − FA) * (PP − PPF) | |||||
| PPF from Step 3 = | 0.00 | 4,200.00 | |||
| PS from Step 4 = | 60,000.00 | 40,000.00 | |||
| CV from Step 1 = | 60,000.00 | 40,000.00 | |||
| FA from Step 2 = | 10,000.00 | 4,200.00 | |||
| PP from Step 1 = | 50,000.00 | 50,000.00 | |||
| PPS = | 50,000.00 | 50,000.00 | |||
| Step 6. | We then calculate the surrender charge as a percentage of PPS. Note that for a contract with a loss, PPS may be greater than the amount you request to surrender: | ||||
| PPS: | 50,000.00 | 50,000.00 | |||
| less PPF: | 0.00 | 4,200.00 | |||
| PPSC = amount of PPS subject to a surrender charge: | 50,000.00 | 45,800.00 | |||
| multiplied by the surrender charge rate: | ×6.0% | ×6.0% | |||
| surrender charge: | 3,000.00 | 2,748.00 | |||
| Step 7. | The dollar amount you will receive as a result of your full surrender is determined as: | ||||
| Contract value surrendered: | 60,000.00 | 40,000.00 | |||
| Surrender charge: | (3,000.00) | (2.748.00) | |||
| Contract charge (assessed upon full surrender): | (50.00) | (50.00) | |||
| Net full surrender proceeds: | $56,950.00 | $37,202.00 | |||
| • | We receive a single $50,000 purchase payment; |
| • | During the fourth contract year you request a net partial surrender of $15,000.00. The surrender charge percentage in the fourth contract year is 6.0%; and |
| • | You have made no prior surrenders. |
| Contract
with Gain |
Contract
with Loss | ||||
| Contract value just prior to surrender: | $60,000.00 | $40,000.00 | |||
| Contract value on prior anniversary: | 58,000.00 | 42,000.00 | |||
| We determine the amount of contract value that must be surrendered in order for the net partial surrender proceeds to match the amount requested. We start with an estimate of the amount of contract value to surrender and calculate the resulting surrender charge and net partial surrender proceeds as illustrated below. We then adjust our estimate and repeat until we determine the amount of contract value to surrender that generates the desired net partial surrender proceeds. | |||||
| We calculate the surrender charge for each estimate as follows: | |||||
| Step 1. | First, we determine the amount of earnings available in the contract at the time of surrender as: | ||||
| Contract value just prior to surrender (CV): | 60,000.00 | 40,000.00 | |||
| Less purchase payments received and not previously surrendered (PP): | 50,000.00 | 50,000.00 | |||
| Earnings in the contract (but not less than zero): | 10,000.00 | 0.00 | |||
| Step 2. | Next, we determine the total free amount (FA) available in the contract as the greatest of the following values: | ||||
| Earnings in the contract: | 10,000.00 | 0.00 | |||
| Contract
with Gain |
Contract
with Loss | ||||
| 10% of the prior anniversary’s contract value: | 5,800.00 | 4,200.00 | |||
| FA (but not less than zero): | 10,000.00 | 4,200.00 | |||
| Step 3. | Next we determine PPF, the amount by which the total free amount (FA) exceeds earnings | ||||
| Total free amount (FA): | 10,000.00 | 4,200.00 | |||
| Less earnings in the contract: | 10,000.00 | 0.00 | |||
| PPF (but not less than zero): | 0.00 | 4,200.00 | |||
| Step 4. | Next we determine PS, the amount by which the contract value is reduced by the surrender | ||||
| PS (determined by iterative process described above): | 15,319.15 | 15,897.93 | |||
| Step 5. | Now we can determine how much of the PP is being surrendered (PPS) as follows: | ||||
| PPS | = PPF + PPSC | ||||
| = PPF + (PS − FA) / (CV − FA) * (PP − PPF) | |||||
| PPF from Step 3 = | 0.00 | 4,200.00 | |||
| PS from Step 4 = | 15,319.15 | 15,897.93 | |||
| CV from Step 1 = | 60,000.00 | 40,000.00 | |||
| FA from Step 2 = | 10,000.00 | 4,200.00 | |||
| PP from Step 1 = | 50,000.00 | 50,000.00 | |||
| PPS = | 5,319.15 | 19,165.51 | |||
| Step 6. | We then calculate the surrender charge as a percentage of PPS. Note that for a contract with a loss, PPS may be greater than the amount you request to surrender: | ||||
| PPS: | 5,319.15 | 19,165.51 | |||
| less PPF: | 0.00 | 4,200.00 | |||
| PPSC = amount of PPS subject to a surrender charge: | 5,319.15 | 14,965.51 | |||
| multiplied by the surrender charge rate: | ×6.0% | ×6.0% | |||
| surrender charge: | 319.15 | 897.93 | |||
| Step 7. | The dollar amount you will receive as a result of your partial surrender is determined as: | ||||
| Contract value surrendered: | 15,319.15 | 15,897.93 | |||
| Surrender charge: | (319.15) | (897.93) | |||
| Net partial surrender proceeds: | $15,000.00 | $15,000.00 | |||
| • | You purchase the contract with a payment of $20,000; and |
| • | on the first contract anniversary you make an additional purchase payment of $5,000; and |
| • | During the second contract year the contract value falls to $22,000 and you take a $1,500 (including surrender charge) partial surrender; and |
| • | During the third contract year the contract value grows to $23,000. |
| We calculate the ROPP Death Benefit as follows: | ||||
| Contract value at death: | $23,000.00 | |||
| Purchase payments minus adjusted partial surrenders: | ||||
| Total purchase payments: | $25,000.00 | |||
| minus adjusted partial surrenders, calculated as: | ||||
| $1,500 × $25,000 | = | –1,704.54 | ||
| $22,000 | ||||
| for a death benefit of: | $23,295.45 | |||
| The ROPP Death Benefit, calculated as the greatest of these two values: | $23,295.45 | |||
| • | You purchase the contract with a payment of $25,000. |
| • | On the first contract anniversary the contract value grows to $26,000. |
| • | During the second contract year the contract value falls to $22,000, at which point you take a $1,500 partial surrender (including surrender charge), leaving a contract value of $20,500. |
| We
calculate the MAV death benefit, which is based on the greater of three values, as follows: |
||||
| 1. | Contract value at death: | $20,500.00 | ||
| 2. | Purchase payments minus adjusted partial surrenders: | |||
| Total purchase payments: | $25,000.00 | |||
| minus adjusted partial surrenders, calculated as: | ||||
| $1,500 × $25,000 | = | –1,704.55 | ||
| $22,000 | ||||
| for a death benefit of: | $23,295.45 | |||
| 3. | The MAV immediately preceding the date of death: | |||
| Greatest of your contract anniversary values: | $26,000.00 | |||
| plus purchase payments made since the prior anniversary: | +0.00 | |||
| minus adjusted partial surrenders, calculated as: | ||||
| $1,500 × $26,000 | = | –1,772.73 | ||
| $22,000 | ||||
| for a death benefit of: | $24,227.27 | |||
| The
MAV Death Benefit, calculated as the greatest of these three values, which is the MAV: |
$24,227.27 | |||
| • | You purchase the contract with a payment of $25,000. |
| • | On the fifth contract anniversary the contract value grows to $26,000. |
| • | During the sixth contract year the contract value falls to $22,000, at which point you take a $1,500 partial surrender (including surrender charge), leaving a contract value at $20,500. |
| We
calculate the 5-Year MAV death benefit, which is based on the greater of three values, as follows: |
||||
| 1. | Contract value at death: | $20,500.00 | ||
| 2. | Purchase payments minus adjusted partial surrenders: | |||
| Total purchase payments: | $25,000.00 | |||
| minus adjusted partial surrenders, calculated as: | ||||
| $1,500 × $25,000 | = | –1,704.55 | ||
| $22,000 | ||||
| for a death benefit of: | $23,295.45 | |||
| 3. | The 5-Year MAV immediately preceding the date of death: | |||
| Greatest of your contract anniversary values: | $26,000.00 | |||
| plus purchase payments made since the prior anniversary: | +0.00 | |||
| minus adjusted partial surrenders, calculated as: | ||||
| $1,500 × $26,000 | = | –1,772.73 | ||
| $22,000 | ||||
| for a death benefit of: | $24,227.27 | |||
| The
5-Year MAV Death Benefit, calculated as the greatest of these three values, which is the 5-Year MAV: |
$24,227.27 | |||
| • | You purchase the contract with a payment of $100,000 and you are under age 70. You select the seven-year surrender charge schedule, the MAV and the Benefit Protector. |
| • | During the first contract year the contract value grows to $105,000. The death benefit equals the standard death benefit, which is the contract value, or $105,000. You have not reached the first contract anniversary so the Benefit Protector does not provide any additional benefit at this time. |
| • | On the first contract anniversary the contract value grows to $110,000. The death benefit equals: |
| MAV death benefit amount (contract value): | $110,000 |
| plus the Benefit Protector which equals 40% of earnings at death (MAV death benefit amount minus remaining purchase payments): | |
| 0.40 × ($110,000 – $100,000) = | +4,000 |
| Total death benefit of: | $114,000 |
| • | On the second contract anniversary the contract value falls to $105,000. The death benefit equals: |
| MAV death benefit amount (maximum anniversary value): | $110,000 |
| plus the Benefit Protector (40% of earnings at death): | |
| 0.40 × ($110,000 – $100,000) = | +4,000 |
| Total death benefit of: | $114,000 |
| • | During the third contract year the contract value remains at $105,000 and you request a partial surrender, including the applicable 7% surrender charge, of $50,000. We will surrender $10,500 from your contract value free of charge (10% of your prior anniversary’s contract value). The remainder of the surrender is subject to a 7% surrender charge |
| because your purchase payment is two years old, so we will surrender $39,500 ($36,735 + $2,765 in surrender charges) from your contract value. Altogether, we will surrender $50,000 and pay you $47,235. We calculate remaining purchase payments as $100,000 – $45,000 = $55,000 (remember that $5,000 of the partial surrender is contract earnings). The death benefit equals: |
| MAV death benefit amount (maximum anniversary value adjusted for partial surrenders): | |||
| $110,000 – | ($50,000 X $110,000) | = | $57,619 |
| $105,000 | |||
| plus the Benefit Protector (40% of earnings at death): | |||
| 0.40 × ($57,619 – $55,000) = | +1,048 | ||
| Total death benefit of: | $58,667 | ||
| • | On the third contract anniversary the contract value falls by $40,000. The death benefit remains at $58,667. The reduction in contract value has no effect. |
| • | On the ninth contract anniversary the contract value grows to a new high of $200,000. Earnings at death reaches its maximum of 250% of remaining purchase payments that are one or more years old. The death benefit equals: |
| MAV death benefit amount (contract value): | $200,000 |
| plus the Benefit Protector (40% of earnings at death) | |
| 0.40 × 2.50 × ($55,000) = | +55,000 |
| Total death benefit of: | $255,000 |
| • | During the tenth contract year you make an additional purchase payment of $50,000 and your contract value grows to $250,500. The new purchase payment is less than one year old and so it has no effect on the EEB. The death benefit equals: |
| MAV death benefit amount (contract value): | $250,000 |
| plus the Benefit Protector (40% of earnings at death) | |
| 0.40 × 2.50 × ($55,000) = | +55,000 |
| Total death benefit of: | $305,000 |
| • | During the eleventh contract year the contract value remains $250,500 and the “new” purchase payment is now one year old. The value of the Benefit Protector changes. The death benefit equals: |
| MAV death benefit amount (contract value): | $250,500 |
| plus the Benefit Protector which equals 40% of earnings at death (the standard death benefit amount minus remaining purchase payments): | |
| 0.40 × ($250,500 – $105,000) = | +58,200 |
| Total death benefit of: | $308,700 |
| • | You purchase the contract with a payment of $25,000; and |
| • | on the first contract anniversary the total contract value is $25,750; and |
| • | 100 days into the second contract year the total contract value is $24,300. You take a $1,500 (including surrender charge) partial surrender, leaving the contract value at $22,800. The partial year fee for the Enhanced Legacy Benefit on that day would be $64.10 ($24,629.63 x 0.95% x 100 / 365). |
| The death benefit, which is based on the greatest of four values, is calculated as follows: | ||||
| 1. | Contract value death benefit (contract value minus rider fees):$22,800.00 - $64.10 = $22,735.90 | $22,735.90 | ||
| 2. | Purchase payments minus adjusted partial surrenders: | |||
| Total purchase payments: | $25,000.00 | |||
| minus adjusted partial surrenders, calculated as: | ||||
| $1,500 × $25,000 | = | –1,543.21 | ||
| $24,300 | ||||
| for a death benefit of: | $23,456.79 | |||
| 3. | The MAV immediately preceding the date of death: | |||
| The MAV on the immediately preceding anniversary: | $25,750.00 | |||
| plus purchase payments made since that anniversary: | +0.00 | |||
| minus adjusted partial surrenders, calculated as: | ||||
| $1,500 × $25,750 | = | –1,589.51 | ||
| $24,300 | ||||
| for a death benefit of: | $24,160.49 | |||
| 4. | The Accumulation Death Benefit value: | |||
| The ADB value on the first contract anniversary calculated as: 1.05 × $25,000 = | $26,250.00 | |||
| plus purchase payments made since that anniversary: | +0.00 | |||
| minus adjusted partial surrender calculated as: | ||||
| $1,500 × $26,250 | = | –1,620.37 | ||
| $24,300 | ||||
| for a death benefit of: | $24,629.63 | |||
| Enhanced Legacy Benefit, calculated as the greatest of these four values, which is the Accumulation Death Benefit value: | $24,629.63 | |||
| • | You purchase the contract with a Single Life benefit and a payment of $100,000 and make no additional payments to the contract. You also purchase the SecureSource Legacy benefit. |
| • | You are the sole owner and also the annuitant. You are age 61. |
| • | This example uses a Lifetime Payment Percentage of 4.00% at age 61, 5.00% at age 65, and 5.20% at age 70. Your Lifetime Payment Percentage will be based on the rider you choose and your age. |
| • | Annual Step-ups are applied each anniversary when available, where the contract value is greater than the Benefit Base and/or the SecureSource Legacy Death Benefit. Applied Annual Step-ups are indicated in bold. |
| Contract
Duration in Years |
Purchase
Payments |
Partial
Withdrawals |
Assumed
Contract Value |
Credit
Base |
Benefit
Base |
Current
Annual Payment |
Remaining
Annual Payment |
Lifetime
Payment Percentage |
SecureSource
Legacy Death Benefit |
| At Issue | $100,000 | NA | $100,000 | $100,000 | $100,000 | $4,000 | $4,000 | 4.00% | $100,000 |
| 1 | — | — | 94,000 | 100,000 | 106,000 | 4,240 | 4,240 | 4.00% | 100,000 |
| 2 | — | — | 103,500 | 100,000 | 112,000 | 4,480 | 4,480 | 4.00% | 103,500 |
| 3 | — | — | 120,000 | 120,000 | 120,000 (1) | 4,800 | 4,800 | 4.00% | 120,000 |
| 3.5 | — | 4,800 | 115,200 | 120,000 | 120,000 | 4,800 | - | 4.00% | 115,200 |
| 4 | — | — | 115,000 | 120,000 | 120,000 (2) | 4,800 | 4,800 | 4.00% | 115,200 |
| 5 | — | — | 110,000 | 120,000 | 127,200 | 5,088 | 5,088 | 4.00% | 115,200 |
| 6 | — | — | 140,000 | 140,000 | 140,000 | 7,000 | 7,000 | 5.00% (3) | 140,000 |
| 7 | — | — | 120,000 | 140,000 | 148,400 | 7,420 | 7,420 | 5.00% | 140,000 |
| 7.5 | — | 10,000 | 110,000 | 136,792 | 144,999 (4) | 7,420 | - | 5.00% | 129,542 |
| 8 | — | — | 102,000 | 136,792 | 144,999 | 7,250 | 7,250 | 5.00% | 129,542 |
| 9 | — | — | 109,000 | 136,792 | 153,207 | 7,660 | 7,660 | 5.00% | 129,542 |
| (1) | Since the contract value was greater than the Benefit Base (after it was increased by the Annual Credit), the Credit Base is increased to the contract value and future Annual Credits will be based on the new (higher) Credit Base. |
| (2) | Since a withdrawal was taken in the previous contract year, the Annual Credit is not available on the 4th Anniversary. |
| (3) | Because the annual step-up increased the Benefit Base on the anniversary and the covered person's attained age is in a higher age band, the Lifetime Payment Percentage increased. |
| (4) | The $10,000 withdrawal is greater than the $7,420 Remaining Annual Payment allowed under the rider and therefore excess withdrawal processing is applied. Values are calculated as described in 'Lifetime Benefit Description - Determination of Adjustment of Benefit Values'. |
| • | You purchase the contract with a Single Life benefit and a payment of $100,000 and make no additional payments to the contract. You also purchase the SecureSource Legacy benefit. |
| • | You are the sole owner and also the annuitant. You are age 61. |
| • | This example uses a minimum Lifetime Payment Percentage of 3.60% at age 61, 4.70% at age 65, and 4.90% at age 70. The Income Bonus used in the example is 1.00%. Your Lifetime Payment Percentage, including any Income Bonus percentage, will be based on the rider you choose and your age. |
| • | Annual Step-ups are applied each anniversary when available, where the contract value is greater than the Benefit base and/or SecureSource Legacy Death Benefit. Applied Annual Step-ups are indicated in bold. |
| Contract
Duration in Years |
Purchase
Payments |
Partial
With- drawals |
Assumed
Contract Value |
Credit
Base |
Benefit
Base |
Withdrawal
Adjustment Base |
Benefit
Determining Percentage |
Current
Annual Payment |
Remaining
Annual Payment |
Lifetime
Payment Percentage |
Secure-
Source Legacy Death Benefit |
| At Issue | $100,000 | NA | $100,000 | $100,000 | $100,000 | $100,000 | 0.0% | $4,600 | $4,600 | 4.60% (1) | $100,000 |
| 1 | — | — | 94,000 | 100,000 | 106,000 | 100,000 | 6.0% | 4,876 | 4,876 | 4.60% | 100,000 |
| 2 | — | — | 103,500 | 100,000 | 112,000 | 103,500 | 0.0% | 5,152 | 5,152 | 4.60% | 103,500 |
| 3 | — | — | 120,000 | 120,000 | 120,000 (2) | 120,000 | 0.0% | 5,520 | 5,520 | 4.60% | 120,000 |
| 3.5 | — | 5,520 | 114,800 | 120,000 | 120,000 (3) | 114,480 | 0.0% | 5,520 | - | 4.60% | 114,480 |
| 4 | — | — | 115,000 | 120,000 | 120,000 | 115,000 | 0.0% | 5,520 | 5,520 | 4.60% | 115,000 |
| 5 | — | — | 110,000 | 120,000 | 127,200 | 115,000 | 4.3% | 5,851 | 5,851 | 4.60% | 115,000 |
| 6 | — | — | 140,000 | 140,000 | 140,000 | 140,000 | 0.0% | 7,980 | 7,980 | 5.70% (4) | 140,000 |
| 7 | — | — | 120,000 | 140,000 | 148,400 | 140,000 | 14.3% | 8,459 | 8,459 | 5.70% | 140,000 |
| 7.5 | — | 10,000 | 110,000 | 138,066 | 146,350 (5) | 128,333 | 14.3% | 8,459 | - | 5.70% | 129,724 |
| 8 | — | — | 102,000 | 138,066 | 146,350 | 128,333 | 20.5% | 6,878 | 6,878 | 4.70% (6) | 129,724 |
| 9 | — | — | 109,000 | 138,066 | 154,633 | 128,333 | 15.1% | 8,814 | 8,814 | 5.70% | 129,724 |
| (1) | This includes the 1.00% Income Bonus because the Benefit Determining Percentage is below 20%. |
| (2) | Since the contract value was greater than the Benefit Base (after it was increased by the Annual Credit), the Credit Base is increased to the contract value and future Annual Credits will be based on the new (higher) Credit Base. |
| (3) | Since a withdrawal was taken in the previous contract year, the Annual Credit is not available on the 4th Anniversary. |
| (4) | Because the annual step-up increased the BB on the anniversary and the covered person's attained age is in a higher age band, the Lifetime Payment Percentage increased. |
| (5) | The $10,000 withdrawal is greater than the $8,459 Remaining Annual Payment allowed under the rider and therefore excess withdrawal processing is applied. Values are reset as described in "Lifetime Benefit Description - Determination of Adjustment of Benefit Values". |
| (6) | The Lifetime Payment Percentage does not include the 1% Income Bonus when the Benefit Determining Percentage is 20% or more. |
| • | You purchase the contract with the Single Life benefit and a payment of $100,000 and make no additional payments to the contract. You also purchase the SecureSource Legacy benefit. |
| • | You are the sole owner and also the annuitant. You are age 61. |
| • | This example uses a minimum Lifetime Payment Percentage of 3.60% at age 61, 4.70% at age 65, and 4.90% at age 70. The Income Bonus used in the example is 1.00%. Your Lifetime Payment Percentage, including any Income Bonus percentage, will be based on the rider you choose and your age. |
| • | Annual Step-ups are applied each anniversary when available, where the contract value is greater than the Benefit base and/or the SecureSource Legacy Death Benefit. Applied Annual Step-ups are indicated in bold. |
| Contract
Duration in Years |
Purchase
Payments |
Partial
With- drawals |
Assumed
Contract Value |
Returns-
linked Credit |
Benefit
Base |
Credit
Carryover |
Withdrawal
Adjustment Base |
Benefit
Determining Percentage |
Current
Annual Payment |
Remaining
Annual Payment |
Lifetime
Payment Percentage |
Secure-
Source Legacy Death Benefit |
| At Issue | $100,000 | NA | $100,000 | $100,000 | $100,000 | 0.0% | $4,600 | $4,600 | 4.60% (1) | $100,000 | ||
| 1 | - | - | 94,000 | - | 100,000 | - | 100,000 | 6.0% | 4,600 | 4,600 | 4.60% | 100,000 |
| 2 | - | - | 103,500 | 9,400 | 109,400 | 9,400 (2) | 103,500 | 0.0% | 5,032 | 5,032 | 4.60% | 103,500 |
| 3 | - | - | 120,000 | 10,350 | 120,000 (3) | 10,350 | 120,000 | 0.0% | 5,520 | 5,520 | 4.60% | 120,000 |
| 3.5 | - | 5,520 | 114,480 | 120,000 | 10,350 | 114,480 | 0.0% | 5,520 | - | 4.60% | 114,480 | |
| 4 | - | - | 115,000 | - | 120,000 (4) | 10,350 | 115,000 | 0.0% | 5,520 | 5,520 | 4.60% | 115,000 |
| 5 | - | - | 110,000 | 10,350 (5) | 130,350 | - | 115,000 | 4.3% | 5,996 | 5,996 | 4.60% | 115,000 |
| 6 | - | - | 140,000 | 11,000 | 141,350 | 11,000 | 140,000 | 0.0% | 6,502 | 6,502 | 4.60% | 140,000 |
| 7 | - | - | 120,000 | 11,000 | 152,350 | - | 140,000 | 14.3% | 7,008 | 7,008 | 4.60% | 140,000 |
| 7.5 | - | 10,000 | 110,000 | 148,316 (6) | - | 128,333 | 14.3% | 7,008 | - | 4.60% | 129,470 | |
| 8 | - | - | 102,000 | - | 148,316 | - | 128,333 | 20.5% | 5,339 | 5,339 | 3.60% (7) | 129,470 |
| 9 | - | - | 109,000 | 10,200 | 158,516 | 3,800 | 128,333 | 15.1% | 7,292 | 7,292 | 4.60% | 129,470 |
| (1) | This includes the 1.00% Income Bonus because the Benefit Determining Percentage is below 20%. |
| (2) | Returns linked credit and Credit carryover are based on the $9,500 positive contract returns (i.e. contract value increased from $94,000 to $103,500). The maximum credit and maximum carryover are 10% of prior anniversary contract value. |
| (3) | Since the contract value was greater than the Benefit Base after it was increased by the Returns-linked Credit, the Benefit Base is increased to the contract value. |
| (4) | Since a withdrawal was taken in the previous contract year, the Returns-linked Credit is not available on the 4th Anniversary and the Credit Carryover is not increased. |
| (5) | Contract return used for credit is zero so the Returns-linked credit is from the Credit Carryover. |
| (6) | The $10,000 withdrawal is greater than the $7,008 Remaining Annual Payment allowed under the rider and therefore excess withdrawal processing is applied. Values are reset as described in "Lifetime Benefit Description - Determination of Adjustment of Benefit Values". |
| (7) | The Lifetime Payment Percentage does not include the 1% Income Bonus when the Benefit Determining Percentage is 20% or more. |
| • | You purchase the contract (with the Accumulation Protector Benefit rider) with a payment of $100,000. |
| • | You make no additional purchase payments. |
| • | You do not exercise the elective step-up option. |
| End
of Contract Year |
Partial
Surrender (beginning of year) |
MCAV
Adjustment for Partial Surrender |
MCAV | Accumulation
Benefit Amount |
Hypothetical
Assumed Contract Value |
| 1 | 0 | 0 | 100,000 | 0 | 110,000 |
| 2 | 0 | 0 | 115,200 | 0 | 128,000 |
| 3 | 0 | 0 | 121,500 | 0 | 135,000 |
| 4 | 0 | 0 | 121,500 | 0 | 118,000 |
| 5 | 0 | 0 | 121,500 | 0 | 100,000 |
| 6 | 2,000 | 2,430 | 119,070 | 0 | 122,000 |
| 7 | 0 | 0 | 126,000 | 0 | 140,000 |
| 8 | 0 | 0 | 126,000 | 0 | 130,000 |
| 9 | 5,000 | 4,846 | 121,154 | 0 | 110,000 |
| 10 | 0 | 0 | 121,154 | 16,154 | 105,000 |
| (1) | Each calendar year, if your Annual Life Expectancy Required Minimum Distribution Amount (ALERMDA) is greater than the Current Annual Payment. |
| • | A Lifetime Additional Benefit Amount (LABA) will be set equal to that portion of your ALERMDA that exceeds the value of Current Annual Payment. |
| • | The LABA will be reduced by the total of the amount that each withdrawal in the current calendar year exceeds the Remaining Annual Payment at the time of each withdrawal, but shall not be reduced to less than zero. |
| • | Any withdrawals taken in a contract year will count first against and reduce the Remaining Annual Payment for that contract year. |
| • | Once the Remaining Annual Payment for the current contract year has been depleted, any additional amounts withdrawn will count against and reduce the LABA. These withdrawals will not be considered excess withdrawals with regard to the Current Annual Payment as long as they do not exceed the remaining LABA. |
| • | Once the LABA has been depleted, any additional withdrawal amounts will be considered excess withdrawals with regard to the Current Annual Payment and will subject the Current Annual Payment to the excess withdrawal processing described by the SecureSource series rider. |
| (1) | determined by us each calendar year; |
| (2) | based on your initial purchase payment and not the entire interest value in the calendar year of contract issue and therefore may not be sufficient to allow you to withdraw your RMD without causing an excess withdrawal; |
| (3) | based on the value of this contract alone on the date it is determined; |
| (4) | based on recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and |
| (5) | based on the company’s understanding and interpretation of the requirements for life expectancy distributions intended to satisfy the required minimum distribution rules under Code Section 401(a)(9) and the Treasury Regulations promulgated thereunder as applicable on the effective date of this prospectus, to: |
| 1. | IRAs under Section 408(b) of the Code; |
| 2. | Roth IRAs under Section 408A of the Code; |
| 3. | SIMPLE IRAs under Section 408(p) of the Code; |
| 4. | Simplified Employee Pension IRA (SEP) plans under Section 408(k) of the Code; |
| 5. | Custodial and investment only plans under section 401(a) of the Code; |
| 6. | TSAs under Section 403(b) of the Code. |
| • | Rate Sheet Prospectus Supplement dated April 29, 2019 – applicable to contracts with applications signed from 4/29/19 through 10/27/2019; |
| • | Rate Sheet Prospectus Supplement dated Oct. 14, 2019 – applicable to contracts with applications signed from 10/28/19 through 3/29/2020; |
| • | Rate Sheet Prospectus Supplement dated March 16, 2020 – applicable to contracts with applications signed from 3/30/2020 through 4/30/2020; |
| • | Rate Sheet Prospectus Supplement dated May 1, 2020 – applicable to contracts with applications signed from 5/1/2020 through 5/2/2021; |
| • | Rate Sheet Prospectus Supplement dated May 1, 2021– applicable to contracts with applications signed from 5/3/2021 through 4/28/2022 |
| Rate
Sheet Prospectus Supplement dated April 29, 2019 | |
| Product Name | Prospectus Form #/Date |
| RiverSource RAVA 5 ChoiceSM Variable Annuity | S- 6710 (4/19) |
| • | Current rider fees for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders; |
| • | Lifetime Payment Percentages and Age Bands for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders; |
| • | Income Bonus Percentage for the SecureSource 4 and SecureSource 4 Plus optional benefit riders; |
| • | Annual Credit percentage and Credit Period for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders. |
| • | Base Doubler age used to determine Base Doubler Date for the SecureSource Core Plus optional benefit rider. |
| Rider | Single Life Option | Joint Life Option |
| SecureSource CoreSM | 1.30% | 1.40% |
| SecureSource Core PlusSM | 1.50% | 1.70% |
| SecureSource 4® | 1.00% | 1.15% |
| SecureSource 4 Plus® | 1.3-% | 1.55% |
| Age Bands | Lifetime
Payment Percentage – Single Life |
Lifetime
Payment Percentage – Joint Life |
| 50-58 | 3.50% | 3.20% |
| 59-64 | 4.50% | 4.20% |
| 65-69 | 5.50% | 5.20% |
| 70-74 | 5.75% | 5.45% |
| 75-79 | 6.00% | 5.70% |
| 80+ | 6.50% | 6.20% |
| Age Bands | Lifetime
Payment Percentage – Single Life |
Lifetime
Payment Percentage – Joint Life |
| 50-58 | 3.50% | 3.20% |
| 59-64 | 4.50% | 4.20% |
| 65-69 | 5.50% | 5.20% |
| 70-74 | 5.75% | 5.45% |
| 75-79 | 6.00% | 5.70% |
| 80+ | 6.50% | 6.20% |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 3.00% | 2.75% | 1.00% |
| 59-64 | 4.00% | 3.75% | 1.00% |
| 65-69 | 5.00% | 4.75% | 1.00% |
| 70-74 | 5.25% | 5.00% | 1.00% |
| 75-79 | 5.50% | 5.25% | 1.00% |
| 80+ | 6.00% | 5.75% | 1.00% |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 3.30% | 3.20% | 1.00% |
| 59-64 | 4.30% | 4.20% | 1.00% |
| 65-69 | 5.30% | 5.20% | 1.00% |
| 70-74 | 5.55% | 5.45% | 1.00% |
| 75-79 | 5.80% | 5.70% | 1.00% |
| 80+ | 6.30% | 6.20% | 1.00% |
| Rider | Annual Credit Percentage | Credit Period |
| SecureSource CoreSM | 6% | 12 years |
| SecureSource Core PlusSM | 7% | 12 years |
| SecureSource 4® | 6% | 12 years |
| SecureSource 4 Plus® | 6% | 12 years |
| Rate
Sheet Prospectus Supplement dated October 14, 2019 to the Prospectus Dated April 29, 2019 | |
| Product Name | Prospectus Form # |
| RiverSource RAVA 5 ChoiceSM Variable Annuity | S- 6710 CA (4/19) |
| • | Current rider fees for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders; |
| • | Lifetime Payment Percentages and Age Bands for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders; |
| • | Income Bonus Percentage for the SecureSource 4 and SecureSource 4 Plus optional benefit riders; |
| • | Annual Credit percentage and Credit Period for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders. |
| • | Base Doubler age used to determine Base Doubler Date for the SecureSource Core Plus optional benefit rider. |
| Rider | Single Life Option | Joint Life Option |
| SecureSource CoreSM | 1.45% | 1.55% |
| SecureSource Core PlusSM | 1.65% | 1.85% |
| SecureSource 4® | 1.35% | 1.50% |
| SecureSource 4 Plus® | 1.45% | 1.70% |
| Age Bands | Lifetime
Payment Percentage – Single Life |
Lifetime
Payment Percentage – Joint Life |
| 50-58 | 3.30% | 2.90% |
| 59-64 | 4.30% | 3.90% |
| 65-69 | 5.30% | 4.90% |
| 70-74 | 5.55% | 5.15% |
| 75-79 | 5.80% | 5.40% |
| 80+ | 6.30% | 5.90% |
| Age Bands | Lifetime
Payment Percentage – Single Life |
Lifetime
Payment Percentage – Joint Life |
| 50-58 | 3.30% | 2.90% |
| 59-64 | 4.30% | 3.90% |
| 65-69 | 5.30% | 4.90% |
| 70-74 | 5.55% | 5.15% |
| 75-79 | 5.80% | 5.40% |
| 80+ | 6.30% | 5.90% |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 3.00% | 2.75% | 1.00% |
| 59-64 | 4.00% | 3.75% | 1.00% |
| 65-69 | 5.00% | 4.75% | 1.00% |
| 70-74 | 5.25% | 5.00% | 1.00% |
| 75-79 | 5.50% | 5.25% | 1.00% |
| 80+ | 6.00% | 5.75% | 1.00% |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 3.10% | 2.90% | 1.00% |
| 59-64 | 4.10% | 3.90% | 1.00% |
| 65-69 | 5.10% | 4.90% | 1.00% |
| 70-74 | 5.35% | 5.15% | 1.00% |
| 75-79 | 5.60% | 5.40% | 1.00% |
| 80+ | 6.10% | 5.90% | 1.00% |
| Rider | Annual Credit Percentage | Credit Period |
| SecureSource CoreSM | 6% | 10 years |
| SecureSource Core PlusSM | 7% | 10 years |
| SecureSource 4® | 6% | 10 years |
| SecureSource 4 Plus® | 6% | 10 years |
| Rate
Sheet Prospectus Supplement dated March 16, 2020 to the Prospectus Dated April 29, 2019 | |
| Product Name | Prospectus Form # |
| RiverSource RAVA 5 ChoiceSM Variable Annuity | S- 6710 CA (4/19) |
| • | Current rider fees for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders; |
| • | Lifetime Payment Percentages and Age Bands for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders; |
| • | Income Bonus Percentage for the SecureSource 4 and SecureSource 4 Plus optional benefit riders; |
| • | Annual Credit percentage and Credit Period for the SecureSource Core, SecureSource Core Plus, SecureSource 4, and SecureSource 4 Plus optional benefit riders. |
| • | Base Doubler age used to determine Base Doubler Date for the SecureSource Core Plus optional benefit rider. |
| Rider | Single Life Option | Joint Life Option |
| SecureSource CoreSM | 1.60% | 1.70% |
| SecureSource Core PlusSM | N/A | N/A |
| SecureSource 4® | 1.55% | 1.65% |
| SecureSource 4 Plus® | 1.70% | 1.80% |
| Age Bands | Lifetime
Payment Percentage – Single Life |
Lifetime
Payment Percentage – Joint Life |
| 50-58 | 3.00% | 2.60% |
| 59-64 | 4.00% | 3.60% |
| 65-69 | 5.00% | 4.60% |
| 70-74 | 5.20% | 4.70% |
| 75-79 | 5.35% | 4.85% |
| 80+ | 5.50% | 5.00% |
| Age Bands | Lifetime
Payment Percentage – Single Life |
Lifetime
Payment Percentage – Joint Life |
| 50-58 | N/A | N/A |
| 59-64 | N/A | N/A |
| 65-69 | N/A | N/A |
| 70-74 | N/A | N/A |
| 75-79 | N/A | N/A |
| 80+ | N/A | N/A |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 2.80% | 2.45% | 1.00% |
| 59-64 | 3.80% | 3.45% | 1.00% |
| 65-69 | 4.80% | 4.45% | 1.00% |
| 70-74 | 5.00% | 4.55% | 1.00% |
| 75-79 | 5.15% | 4.70% | 1.00% |
| 80+ | 5.30% | 4.85% | 1.00% |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 2.80% | 2.45% | 1.00% |
| 59-64 | 3.80% | 3.45% | 1.00% |
| 65-69 | 4.80% | 4.45% | 1.00% |
| 70-74 | 5.00% | 4.55% | 1.00% |
| 75-79 | 5.15% | 4.70% | 1.00% |
| 80+ | 5.30% | 4.85% | 1.00% |
| Rider | Annual Credit Percentage | Credit Period |
| SecureSource CoreSM | 6% | 10 years |
| SecureSource Core PlusSM | N/A | N/A |
| SecureSource 4® | 6% | 10 years |
| SecureSource 4 Plus® | 7% | 10 years |
| Rate
Sheet Prospectus Supplement Dated May 1, 2021 to the Prospectus Dated May 1, 2021 | |
| Product Name | Prospectus Form # |
| RiverSource RAVA 5 ChoiceSM Variable Annuity | S- 6710 CH (5/21) |
| • | Current rider fees for the SecureSource Tempo, SecureSource Core 2, SecureSource 5 and SecureSource 5 Plus optional benefit riders; |
| • | Lifetime Payment Percentages and Age Bands for the SecureSource Tempo, SecureSource Core 2, SecureSource 5 and SecureSource 5 Plus optional benefit riders; |
| • | Income Bonus Percentage for the SecureSource Tempo, SecureSource 5 and SecureSource 5 Plus optional benefit riders; |
| • | Annual Credit percentage and Credit Period for the SecureSource Core 2, SecureSource 5 and SecureSource 5 Plus optional benefit riders; |
| • | Credit Multiplier, Maximum Credit percentage, Maximum Credit Carryover percentage for the SecureSource Tempo optional benefit riders. |
| Rider | Single Life Option | Joint Life Option |
| SecureSource TempoSM | 1.55% | 1.65% |
| SecureSource 5SM | 1.55% | 1.65% |
| SecureSource 5 PlusSM | 1.70% | 1.80% |
| SecureSource Core 2SM | 1.60% | 1.70% |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 2.60% | 2.30% | 1.00% |
| 59-64 | 3.60% | 3.30% | 1.00% |
| 65-69 | 4.70% | 4.30% | 1.00% |
| 70-74 | 4.90% | 4.40% | 1.00% |
| 75-79 | 5.00% | 4.55-% | 1.00% |
| 80+ | 5.10% | 4.65% | 1.00% |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 2.60% | 2.30% | 1.00% |
| 59-64 | 3.60% | 3.30% | 1.00% |
| 65-69 | 4.70% | 4.30% | 1.00% |
| 70-74 | 4.90% | 4.40% | 1.00% |
| 75-79 | 5.00% | 4.55-% | 1.00% |
| 80+ | 5.10% | 4.65% | 1.00% |
| Age Bands | Minimum
Lifetime Payment Percentage – Single Life |
Minimum
Lifetime Payment Percentage – Joint Life |
Income
Bonus Percentage |
| 50-58 | 2.60% | 2.30% | 1.00% |
| 59-64 | 3.60% | 3.30% | 1.00% |
| 65-69 | 4.70% | 4.30% | 1.00% |
| 70-74 | 4.90% | 4.40% | 1.00% |
| 75-79 | 5.00% | 4.55-% | 1.00% |
| 80+ | 5.10% | 4.65% | 1.00% |
| Age Bands | Lifetime
Payment Percentage – Single Life |
Lifetime
Payment Percentage – Joint Life |
| 50-58 | 3.00% | 2.50% |
| 59-64 | 4.00% | 3.50% |
| 65-69 | 5.00% | 4.50% |
| 70-74 | 5.20% | 4.60% |
| 75-79 | 5.35% | 4.85% |
| 80+ | 5.50% | 5.00% |
| Rider | Annual Credit Percentage | Credit Period |
| SecureSource TempoSM | N/A | 15 years |
| SecureSource 5SM | 5% | 10 years |
| SecureSource 5 PlusSM | 6% | 10 years |
| SecureSource Core 2SM | 5% | 10 years |
| Name | Principal Business Address* | Position
and Offices With Depositor | ||
| Gumer C. Alvero | Chairman of the Board and President | |||
| Michael J. Pelzel | Senior Vice President – Corporate Tax | |||
| Stephen P. Blaske | Director, Senior Vice President and Chief Actuary | |||
| Shweta Jhanji | Senior Vice President and Treasurer | |||
| Gene R. Tannuzzo | Director | |||
| Brian J. McGrane | Director | |||
| Brian E. Hartert | Chief Financial Officer | |||
| Paula J. Minella | Secretary | |||
| Jeninne C. McGee | Director | |||
| Gregg L. Ewing | Vice President and Controller | |||
| Mark Gorham | Director and Vice President – Insurance Product Development | |||
| Lynn Abbott | Vice President – National Sales Manager and Fund Management |
| * | The business address is 70100 Ameriprise Financial Center, Minneapolis, MN 55474. |
| Parent Company /Subsidiary Name | Jurisdiction | |
| Ameriprise Financial, Inc.* | Delaware | |
| Ameriprise Advisor Capital, LLC | Delaware | |
| Ameriprise Advisor Financing, LLC | Delaware | |
| Ameriprise Asset Management Holdings Singapore (Pte.) Ltd. | Signapore | |
| Ameriprise Asset Management Holdings Hong Kong Limited | Hong Kong |
| Parent Company /Subsidiary Name | Jurisdiction | |
| Threadneedle Portfolio Services Hong Kong Limited | Hong Kong | |
| BMO Global Asset Management (Asia) Limited | Hong Kong | |
| Columbia Threadneedle Investments Japan Co., Ltd. | Japan | |
| Columbia Threadneedle Malaysia Sdn Bhd. | Malaysia | |
| Threadneedle Investments Singapore (Pte.) Ltd. | Singapore | |
| Ameriprise Bank, FSB | Federal | |
| Ameriprise Capital Trust I | Delaware | |
| Ameriprise Capital Trust II | Delaware | |
| Ameriprise Capital Trust III | Delaware | |
| Ameriprise Capital Trust IV | Delaware | |
| Ameriprise Captive Insurance Company | Vermont | |
| Ameriprise Certificate Company | Delaware | |
| Investors Syndicate Development Corporation | Nevada | |
| Ameriprise Holdings, Inc. | Delaware | |
| Ameriprise India LLP1 | India | |
| Ameriprise India Partner, LLC | Delaware | |
| Ameriprise Trust Company | Minnesota | |
| AMPF Holding, LLC | Minnesota | |
| American Enterprise Investment Services Inc.2 | Minnesota | |
| Ameriprise Financial Services, LLC2 | Delaware | |
| AMPF Property Corporation | Michigan | |
| Investment Professionals, Inc.2 | Texas | |
| Columbia Management Investment Advisers, LLC | Minnesota | |
| Advisory Capital Strategies Group Inc. | Minnesota | |
| Columbia Wanger Asset Management, LLC | Delaware | |
| Emerging Global Advisors, LLC | Delaware | |
| GA Legacy, LLC | Delaware | |
| J. & W. Seligman & Co. Incorporated | Delaware | |
| Columbia Management Investment Distributors, Inc.2 | Delaware | |
| Seligman Partners, LLC3 | Delaware | |
| Lionstone BBP Limited Partner, LLC | Delaware | |
| Houston BBP, L.P.4 | Delaware | |
| Lionstone Partners, LLC | Texas | |
| Cash Flow Asset Management GP, LLC | Texas | |
| Cash Flow Asset Management, L.P.5 | Texas | |
| CREAD Special VAD Limited Partner, LLC | Delaware | |
| Lionstone Advisory Services, LLC | Texas | |
| Lionstone CFRE II Real Estate Advisory, LLC | Delaware |
| Parent Company /Subsidiary Name | Jurisdiction | |
| Lionstone Development Services, LLC | Texas | |
| LPL 1111 Broadway GP, LLC | Texas | |
| LPL 1111 Broadway, L.P.6 | Texas | |
| Lionstone Raleigh Development Partners GP, LLC. | Delaware | |
| Lionstone Raleigh Development Partners, LP7 | Delaware | |
| Lionstone RDP Channel House Investors, L.P. | Delaware | |
| Lionstone RDP PCS Phase I Investors, L.P. | Delaware | |
| Lionstone RDP Platform Investors, L.P. | Delaware | |
| Lionstone VA Five, LLC | Delaware | |
| Lionstone US Value-Add Five, L.P.8 | Delaware | |
| RiverSource CDO Seed Investments, LLC | Minnesota | |
| Columbia Management Investment Services Corp. | Minnesota | |
| Columbia Threadneedle Investments UK International Limited | England & Wales | |
| BMO Global Asset Management (Europe) Limited | England & Wales | |
| BMO Asset Management (Holdings) plc | Scotland | |
| BMO Astraeus III GP LLP | ||
| Astraeus III FP LP | ||
| BMO AM Capital (Group) Limited | Cayman Islands | |
| BMO AM Capital (Holdings) Limited | Cayman Islands | |
| BMO AM Capital (UK) Limited | England & Wales | |
| Thames River Capital Family Benefit Trust | England & Wales | |
| BMO AM Multi-Manager LLP | England & Wales | |
| Thames River Capital LLP | England & Wales | |
| BMO AM Group (Holdings) Limited | England & Wales | |
| BMO AM Group (Management) Limited | England & Wales | |
| BMO AM Holdings Limited | England & Wales | |
| BMO AM Investment Services Limited | England & Wales | |
| BMO Asset Management Limited | England & Wales | |
| F&C Unit Management Limited | England & Wales |
| Parent Company /Subsidiary Name | Jurisdiction | |
| FCEM Holdings (UK) Limited | England & Wales | |
| F&C Emerging Markets Limited | England & Wales | |
| F&C (CI) Limited | England & Wales | |
| F&C Private Equity Nominee Limited | England & Wales | |
| BMO Asset Management Luxembourg S.A.9† | Luxembourg | |
| BMO Asset Management Netherlands B.V. | Netherlands | |
| BMO Portugal, Gestão de Patrimónios, S.A. | Portugal | |
| F&C Alternative Investments (Holdings) Limited | England & Wales | |
| F&C Ireland Limited | Ireland | |
| BMO AM Treasury Limited | England & Wales | |
| WAM Holdings Ltd | England & Wales | |
| BMO Fund Management Limited | England & Wales | |
| BMO Managers Limited | England & Wales | |
| BMO Asset Management (Services) Limited | Scotland | |
| BMO Global Asset Management (Swiss) GmbH‡ | Switzerland | |
| BMO Investment Business Limited | Scotland | |
| BMO PE Co-Investment GP LLP | Scotland | |
| BMO FCIT PE FP LP9 | Scotland | |
| BMO PE Co-Investment FP LP9 | Scotland | |
| BMO Real Estate Partners LLP10 | England & Wales | |
| BMO UK Residential Real Estate FCP -RAIF (Associate) | England & Wales | |
| REIT Asset Management Limited | England & Wales | |
| BMO REP (Corporate Services) Limited | England & Wales | |
| F&C REIT Corporate Finance Limited | England & Wales | |
| BMO Real Partners S.à.r.l. | Luxembourg | |
| BMO Real Estate Partners GmbH & Co. KG, München | Germany | |
| BMO Real Estate Partners Verwaltungsgesellschaft mbH, München (General Partner) | Germany | |
| BMO REP Asset Management plc | England & Wales | |
| FOSCA II Manager S.à.r.l. | Luxembourg |
| Parent Company /Subsidiary Name | Jurisdiction | |
| BMO REP Property Management Limited | England & Wales | |
| BMO Unit Trust Managers Limited | England | |
| Castle Mount Impact Partners GP LLP | ||
| Castle Mount Impact Partners FP LP | ||
| F&C Aurora (GP) Limited | Scotland | |
| LPE II (Founding Partner) LP | Scotland | |
| The Aurora Fund (Founder Partner) LP9 | Scotland | |
| F&C Climate Opportunity Partners (GP) Limited | Scotland | |
| F&C Climate Opportunity Partners (GP) LP | Scotland | |
| F&C Climate Opportunity Partners (Founder Partner) LP9 | Scotland | |
| F&C Equity Partners Holdings Limited | England & Wales | |
| F&C Equity Partners plc | England & Wales | |
| F&C European Capital Partners (GP) Limited | Scotland | |
| F&C European Capital Partners (Founder Partner) LP9 | Scotland | |
| F&C European Capital Partners II (GP) Limited | Scotland | |
| F&C European Capital Partners II (Founder Partner) LP9 | Scotland | |
| F&C European Capital Partners II (GP) LP | Scotland | |
| F&C Finance plc | England & Wales | |
| F&C Group ESOP Trustee Limited | Scotland | |
| F&C Investment Manager plc | England & Wales | |
| FP Asset Management Holdings Limited | England & Wales | |
| BMO Asset Managers Limited | England & Wales | |
| Ivory & Sime (Japan) KK | Japan | |
| Ivory & Sime Limited | Scotland | |
| LGM Investments Limited | England & Wales | |
| Pyrford International Limited | England & Wales | |
| RiverSource Distributors, Inc.2 | Delaware | |
| RiverSource Life Insurance Company | Minnesota | |
| Columbia Cent CLO Advisers, LLC | Delaware | |
| RiverSource Life Insurance Co. of New York | New York | |
| RiverSource NY REO, LLC | New York | |
| RiverSource REO 1, LLC | Minnesota |
| Parent Company /Subsidiary Name | Jurisdiction | |
| RiverSource Tax Advantaged Investments, Inc. | Delaware | |
| AEXP Affordable Housing Portfolio, LLC11 | Delaware | |
| TAM UK International Holdings Limited | England & Wales | |
| Threadneedle Asset Management Oversight Limited | England & Wales | |
| Ameriprise International Holdings GmbH | Switzerland | |
| Ameriprise Asset Management Holdings GmbH | Switzerland | |
| Threadneedle EMEA Holdings 1, LLC | Minnesota, USA | |
| Threadneedle Asset Management Holdings Sàrl** | Luxembourg | |
| CTM Holdings Limited | Malta | |
| Columbia Threadneedle Investments (ME) Limited | Dubai | |
| TAM Investment Limited | England & Wales | |
| Threadneedle Holdings Limited | England & Wales | |
| TAM UK Holdings Limited | England & Wales | |
| Threadneedle Asset Management Holdings Limited** | England & Wales | |
| Columbia Threadneedle Foundation | England & Wales | |
| TC Financing Limited | England & Wales | |
| Threadneedle Asset Management Limited | England & Wales | |
| Threadneedle Investment Services Limited | England & Wales | |
| Threadneedle Asset Management (Nominees) Limited | England & Wales | |
| Convivo Asset Management Limited | England & Wales | |
| Sackville TIPP Property (GP) Limited | England & Wales | |
| Threadneedle Investment Advisors Limited | England & Wales | |
| Threadneedle Portfolio Managers Limited | England & Wales | |
| Threadneedle Asset Management Finance Limited | England & Wales | |
| TMS Investment Limited | Jersey | |
| Threadneedle International Fund Management Limited | England & Wales |
| Parent Company /Subsidiary Name | Jurisdiction | |
| Threadneedle International Limited | England & Wales | |
| Threadneedle Investments (Channel Islands) Limited | Jersey | |
| Threadneedle Investments Limited | England & Wales | |
| Threadneedle Management Services Limited | England & Wales | |
| Threadneedle Capital Management Limited | England & Wales | |
| Threadneedle Pension Trustees Limited | England & Wales | |
| Threadneedle Securities Limited | England & Wales | |
| Threadneedle Navigator ISA Manager Limited | England & Wales | |
| Threadneedle Pensions Limited | England & Wales | |
| Threadneedle Portfolio Services AG | Switzerland | |
| Threadneedle Portfolio Services Limited | England & Wales | |
| Threadneedle Property Investments Limited | England & Wales | |
| Sackville (CTESIF) 2&3 GP Sàrl | Luxembourg | |
| Sackville LCW (GP) Limited | England & Wales | |
| Sackville LCW Sub LP 1 (GP) Limited | England & Wales | |
| Sackville LCW Nominee 1 Limited | England & Wales | |
| Sackville LCW Nominee 2 Limited | England & Wales | |
| Sackville LCW Sub LP 2 (GP) Limited | England & Wales | |
| Sackville LCW Nominee 3 Limited | England & Wales | |
| Sackville LCW Nominee 4 Limited | England & Wales | |
| Sackville Property (GP) Limited | England & Wales | |
| Sackville Property Atlantic (Jersey GP) Limited | Jersey | |
| Sackville Property Curtis (Jersey GP) Limited | Jersey | |
| Sackville Property Dunsfold (Jersey GP) Limited | Jersey | |
| Sackville Property Hayes (Jersey GP) Limited | Jersey | |
| Sackville UKPEC6 Hayes Nominee 1 Limited | Jersey | |
| Sackville UKPEC6 Hayes Nominee 2 Limited | Jersey |
| Parent Company /Subsidiary Name | Jurisdiction | |
| Sackville Property St James (Jersey GP) Limited | Jersey | |
| Sackville UKPEC9 St James Nominee 1 Limited | Jersey | |
| Sackville UKPEC9 St James Nominee 2 Limited | Jersey | |
| Sackville Property Tower (Jersey GP) Limited | Jersey | |
| Sackville UKPEC7 Tower Nominee 1 Limited | Jersey | |
| Sackville UKPEC7 Tower Nominee 2 Limited | Jersey | |
| Sackville Property Victoria (Jersey GP) Limited | Jersey | |
| Sackville SPF IV Property (GP) Limited | England & Wales | |
| Sackville SPF IV (GP) No. 1 Limited | England & Wales | |
| Sackville SPF IV (GP) No. 2 Limited | England & Wales | |
| Sackville SPF IV (GP) No. 3 Limited | England & Wales | |
| Sackville Tandem Property (GP) Limited | England & Wales | |
| Sackville TPEN Property (GP) Limited | England & Wales | |
| Sackville TSP Property (GP) Limited | England & Wales | |
| Sackville UK Property Select II (GP) Limited | England & Wales | |
| Sackville UK Property Select II (GP) No. 1 Limited | England & Wales | |
| Sackville UK Property Select II Nominee (1) Limited | England & Wales | |
| Sackville UK Property Select II (GP) No. 2 Limited | England & Wales | |
| Sackville UK Property Select II Nominee (2) Limited | England & Wales | |
| Sackville UK Property Select II (GP) No. 3 Limited | England & Wales | |
| Sackville UK Property Select II Nominee (3) Limited | England & Wales | |
| Sackville UK Property Select III (GP) No. 1 Limited | England & Wales | |
| Sackville UK Property Select III Nominee (1) Limited | England & Wales | |
| Sackville UK Property Select III Nominee (2) Limited | England & Wales | |
| Sackville UK Property Select III (GP) No. 2 Limited | England & Wales | |
| Sackville UK Property Select III Nominee (3) Ltd | England & Wales |
| Parent Company /Subsidiary Name | Jurisdiction | |
| Sackville UK Property Select III Nominee (4) Ltd | England & Wales | |
| Sackville UK Property Select III (GP) No. 3 Limited | England & Wales | |
| Sackville UK Property Select III Nominee (5) Ltd | England & Wales | |
| Sackville UK Property Select III Nominee (6) Ltd | England & Wales | |
| Sackville UKPEC1 Leeds (GP) Limited | England & Wales | |
| Sackville UKPEC1 Leeds Nominee 1 Limited | England & Wales | |
| Sackville UKPEC1 Leeds Nominee 2 Limited | England & Wales | |
| Sackville UKPEC2 Galahad (GP) Limited | England & Wales | |
| Sackville UKPEC3 Croxley (GP) Limited | England & Wales | |
| Sackville UKPEC3 Croxley Nominee 1 Limited | England & Wales | |
| Sackville UKPEC3 Croxley Nominee 2 Limited | England & Wales | |
| Sackville UKPEC4 Brentford (GP) Limited | England & Wales | |
| Threadneedle Property Execution 1 Limited | England & Wales | |
| Threadneedle Property Execution 2 Limited | England & Wales | |
| Threadneedle Unit Trust Manager Limited | England & Wales | |
| Threadneedle Management Luxembourg S.A. | Luxembourg |
| * | Publicly-traded company (NYSE: AMP) |
| ** | The company has non-voting shares held by third parties |
| † | Regulated by Luxembourg Authority |
| ‡ | FINMA Authorized Representative office of BMO Asset Management Ltd. |
| 1 | Owned by: Ameriprise Financial, Inc. 100% profit sharing ratio with capital contribution of 124,078,760 INR (Indian currency=rupees) & 10 INR owned each by Columbia Management Investment Advisers, LLC & Ameriprise India Partner, LLC |
| 2 | Registered broker-dealer |
| 3 | Managed by members of onshore hedge fund feeders |
| 4 | Owned by: Lionstone BBP Limited Partner, LLC (2%) & Teacher Retirement System of Texas (98%) |
| 5 | Owned by: Lionstone Partners, LLC (99%) & Cash Flow Asset Management GP, LLC (1%). |
| 6 | Owned by: Lionstone Partners, LLC (99.9%) & LPL 1111 Broadway GP, LLC (0.1%) |
| 7 | Owned by Lionstone Raleigh Development Partners GP, LLC (1.88%), LS Employee Holdings, LLC (0.82%), LORE MUDTC Club AIV, LP (48.65%) and California State Teachers’ Retirement System (48.65%) |
| 8 | Owned by Lionstone VA Five, LLC (2%), LVA5 Holdings, LLC (1%), Teacher Retirement System of Texas (26.2%), California State Teachers’ Retirement System (26.2%), William Marsh Rice University (5.2%) and Lion Real Estate LLC (39.4%) |
| 9 | BMO Asset Management (Holdings) plc owns a percentage of the entity |
| 10 | BMO AM Treasury Limited holds 1 unit |
| 11 | One-third of this entity is owned by American Express Travel Related Services. |
| Name
and Principal Business Address* |
Positions
and Offices with Underwriter | |||
| Lynn Abbott | President | |||
| Gumer C. Alvero | Chairman of the Board and Chief Executive Officer | |||
| Shweta Jhanji | Senior Vice President and Treasurer | |||
| Paula J. Minella | Secretary | |||
| Michael S. Mattox | Chief Financial Officer |
| * | The business address is 70100 Ameriprise Financial Center, Minneapolis, MN 55474. |
| NAME
OF PRINCIPAL UNDERWRITER |
NET
UNDERWRITING DISCOUNTS AND COMMISSIONS |
COMPENSATION
ON REDEMPTION |
BROKERAGE
COMMISSIONS |
COMPENSATION | ||||
| RiverSource Distributors, Inc. | $494,414,780 | None | None | None |
| RiverSource Variable Account 10 | ||
| (Registrant) | ||
| By: | /s/ Gumer C. Alvero** | |
| Gumer
C. Alvero Chairman of the Board and President | ||
| RiverSource Life Insurance Company | ||
| (Depositor) | ||
| By: | /s/ Gumer C. Alvero** | |
| Gumer
C. Alvero Chairman of the Board and President | ||
| Signature | Title |
| /s/ Gumer C. Alvero** | Chairman
of the Board and President (Chief Executive Officer) |
| Gumer C. Alvero | |
| /s/ Michael J. Pelzel* | Senior Vice President – Corporate Tax |
| Michael J. Pelzel | |
| /s/ Stephen P. Blaske* | Director, Senior Vice President and Chief Actuary |
| Stephen P. Blaske | |
| /s/ Shweta Jhanji* | Senior Vice President and Treasurer |
| Shweta Jhanji | |
| /s/ Brian J. McGrane* | Director,
Executive Vice President and Chief Financial Officer (Chief Financial Officer) |
| Brian J. McGrane | |
| /s/ Jeninne C. McGee* | Director |
| Jeninne C. McGee | |
| /s/ Gene R. Tannuzzo* | Director |
| Gene R. Tannuzzo | |
| /s/ Gregg L. Ewing * | Vice
President and Controller (Principal Accounting Officer) |
| Gregg L. Ewing |
| /s/ Nicole D. Wood | ||
| Nicole
D. Wood Assistant General Counsel and Assistant Secretary |
| (k) | Opinion of counsel and consent to its use as to the legality of the securities being registered. |
| (l) | Consent of Independent Registered Public Accounting Firm |
| Re: | RiverSource
Life Insurance Company on behalf of RiverSource Variable Account 10 Post-Effective Amendment No. 3 on Form N-4 File numbers 333-229360/811-07355 RiverSource RAVA 5 Choice Variable Annuity |
| /s/ Nicole D. Wood | |
| Nicole
D. Wood Assistant General Counsel and Assistant Secretary |
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in this Post-Effective Amendment No. 3 to the Registration Statement on Form N-4 (No. 333- 229360) (the “Registration Statement”) of RiverSource® RAVA 5 ChoiceSM Variable Annuity of our report dated February 25, 2022 relating to the consolidated financial statements of RiverSource Life Insurance Company and consent to the incorporation by reference in the Registration Statement of our report dated April 22, 2022 relating to the financial statements of each of the divisions of RiverSource Variable Account 10 indicated in our report, which appear in Post-Effective Amendment No. 18 to the Registration Statement on Form N-4 (No. 333-230376). We also consent to the reference to us under the heading “Independent Registered Public Accounting Firm” and we consent to the reference to us under the heading “Experts” in such Registration Statement.
/s/ PricewaterhouseCoopers LLP
Minneapolis, Minnesota
April 22, 2022
