DISCONTINUED PRODUCT - Product not available to new enrollees.
ContributorPlus
Product ID: 132
Type:
Variable Annuity
Discontinued 
$285
1%
9 Years / 9.00%
Yes
Roth Eligible
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Address: - Product Details
- Fees and Charges
- Investment Options
Invest by choosing among a variety of Portfolios, managed by well known investment advisors. You can diversify your investment and customize your retirement strategy to meet your needs. Portfolio options range from aggressive to conservative and domestic to international. One Fixed Account Option is available.
Select the topics below to expand and view additional product details
Asset Allocation is your personal plan for developing a diversified investment portfolio by combining different assets in varying proportions. Asset allocation works by ensuring you own a variety of investment options, so that during market fluctuations, your portfolio may experience less fluctuation. Your Personal allocation plan should consider the appropriate mix of investments that match your financial goals, time horizon and risk tolerance. We have teamed up with Ibbotson Associates, a leading authority on asset allocation, to develop the Asset Allocation Program and model portfolios. Ibbotson uses investment methodology, including historical asset performance and attribution analysis, to determine a model that is consistent with your particular level of risk.
Automatic transfers among the Subaccounts and the Fixed Accumulation Account to maintain the percentage allocations that you have selected. Minimum Account Value of $10,000. Portfolio rebalancing does not guarantee profits or prevent losses in a declining market. Transfers will take place on the last Valuation Date of each calendar quarter. Please see prospectus for more details.
Requires regular investments regardless of fluctuating price levels and does not guarantee profits or prevent losses in a declining market. Automatic transfers from the money market Subaccount or the Fixed Accumulation Account. You may select monthly or quarterly transfers under this program. Source of funds must be at least $10,000. Minimum for each transfer is $500. Please see prospectus for more details.
If loans are available under your plan, loan provisions are as follows: We will charge interest on these loans. The maximum rate of interest that we will charge will be 8% or such other higher rate that may be required by the plan administrator or an employer retirement plan that controls the Contract. These loans will be secured with an interest in your Contract. If loans are available under your Contract and you borrow money under the loan provisions, we may require you to hold the amount necessary to secure all loans under your Contract (“collateral amount”) in the Fixed Accumulation Account. To meet this requirement, it may be necessary for you to transfer funds to the Fixed Accumulation Account from the Subaccounts to which you have allocated your Account Value. See prospectus.
The Contracts are subject to the required minimum distribution (“RMD”) rules of federal tax law. These rules vary based on the tax qualification of the Contract or the plan under which it is issued. For a Tax-Sheltered Annuity Plan, a participant who is not a 5% owner of the employer may delay required minimum distributions until April 1 following the year in which the participant retires from that employer. The required minimum distributions during life are calculated based on standard life expectancy tables. Please see prospectus for details.
Yes
Riders are amendments to the annuity contract that typically add to your costs. make sure you inquire about any additional costs. The following riders exist for this product:
We will waive the early withdrawal charge that would otherwise apply if: your Contract is modified by the Extended Care Waiver Rider; you are confined in a long-term care facility or hospital; the confinement is prescribed by a physician and is medically necessary; the first day of the confinement is at least one year after the Contract effective date; and the confinement has continued for a period of at least 90 consecutive days. Please see the rider for a complete explanation of the applicable terms and conditions. You must provide us with satisfactory proof that you meet these conditions before the date of the withdrawal or surrender. There is no charge for this rider.
We will waive the early withdrawal charge that would otherwise apply if: your Contract is modified by the Waiver of Early Withdrawal Charges upon Terminal Illness Rider; you are diagnosed with a terminal illness by a physician; as a result of the terminal illness, you have a life expectancy of less than 12 months from the date of diagnosis; and the diagnosis is rendered by a physician more than one year after the Contract effective date. Please see the rider for a complete explanation of the applicable terms and conditions. You must provide us with satisfactory proof that you meet these conditions before the date of the withdrawal or surrender. The waiver is in lieu of, and not in addition to, the free withdrawal privilege. There is no charge for this rider.
The Company will make periodic payments until the death of the person on whose life the benefit payments are based.
We will make periodic payments for at least a fixed period. If the person on whose life payments are based lives longer than the fixed period, then we will make payments until his or her death.
The Owner may elect the form of payment of the annuity benefit or the death benefit at any time before his or her death. The form of payment may be a lump sum, or any available form of settlement option. The standard forms of settlement options are described in the Settlement Options section of the prospectus.
Income for a Fixed Period: The Company will make periodic payments for a fixed period of 5 to 30 years. (Payment intervals of 1 to 4 years are available for death benefit settlement options only).
Joint and One-Half Survivor:
We will make periodic payments until the death of the primary person on whose life payments are based; thereafter, we will make one-half (1/2) of the periodic payment until the death of the secondary person on whose life payments are based.
We will make periodic payments until the death of the primary person on whose life payments are based; thereafter, we will make one-half (1/2) of the periodic payment until the death of the secondary person on whose life payments are based.
All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can
substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact
of fees, and the different types of fees please refer to the
Explanation of Fees piece located in the
Help & Resources.
Fees
|
|
0.15% | Annually | Percentage of Annual Assets | No | No | No |
|
|
$30.00 | Annually | Flat Dollar Amount | Yes | No | No |
|
|
1.40% | Annually | Percentage of Annual Assets | No | No | No |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 9.00% |
| 2 | 8.00% |
| 3 | 7.00% |
| 4 | 6.00% |
| 5 | 5.00% |
| 6 | 4.00% |
| 7 | 3.00% |
| 8 | 2.00% |
| 9 | 0.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis:
The amount of the surrender charge is up to 9% of each purchase payment, depending on the number of years elapsed since receipt of the purchase payment. The surrender charge will be waived if the Contract is issued with a tax sheltered annuity endors
Exceptions to the Surrender Charge:
Exceptions to the Surrender Charge:
Percent of purchase payments:
10.00%
Death:
Yes
Nursing Home or Other Medical Expenses:
Yes
