DISCONTINUED PRODUCT - Product not available to new enrollees.
RiverSource Retirement Advisor 4 Advantage Variable Annuity
Product ID: 60
Vendor:
Type:
Variable Annuity
Discontinued 
$147
1.17%
8 Years / 7.00%
No
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Address: - Product Details
- Fees and Charges
- Investment Options
RiverSource Retirement Advisor 4 Advantage(RAVA 4 Advantage), issued by RiverSource Life Insurance Company, can help you make the most of your 403(b) with a powerful combination of benefits. Choose from a full selection of investment options, including more than 50 subaccount options from today's most respected fund families, and fixed accounts that offer a guaranteed rate of return. RAVA 4 Advantage can help you take advantage of several time-tested investing strategies, including diversification, automatic rebalancing, and systematic investing to help you make the most of your 403(b) plan.
Select the topics below to expand and view additional product details
The Portfolio Navigator asset allocation program (PN program) allows you to allocate your contract value to a PN program model portfolio that consists of subaccounts, each of which invests in a fund with a particular investment objective, and may include certain Guaranteed Period Accounts and/or the regular fixed account (if available under the PN program) that represent various asset classes. The PN program also allows you to periodically update your model portfolio or transfer to a new model portfolio. You are required to participate in the PN program if your contract includes an optional Accumulation Benefit rider or GWB for LifeSM rider. If your contract does not include one of these riders, you also may elect to participate in the PN program at no additional charge. You should review
You can ask to have the variable subaccount portion of your contract value allocated according to the percentages that you choose. We automatically will rebalance the variable subaccount portion of your contract value either quarterly, semi-annually, or annually. The period you select will start to run on the date we record your request. On the first valuation date of each of these periods, we automatically will rebalance your contract value so that the value in each subaccount matches your current subaccount percentage allocations. These percentage allocations must be in whole numbers. There is no charge for asset rebalancing. The contract value must be at least $2,000.
Asset rebalancing does not apply to the GPAs, fixed account or the Special DCA account.
Currently, you can use automated transfers to take advantage of dollar-cost averaging. Automated transfers from the fixed account to the subaccounts under automated dollar-cost averaging may not exceed an amount that, if continued, would deplete the fixed account within 12 months. For example, you might transfer a set amount monthly from a relatively conservative subaccount to a more aggressive one, or to several others, or from the fixed account to one or more subaccounts. You may not set up an automated transfer to or from the GPAs. You may not set up an automated transfer to the fixed account or the Special DCA account. You may not set up an automated transfer if the Withdrawal Benefit rider is selected. There is no charge for dollar-cost averaging.
You may request a loan for the contract's full surrender value, less an amount representing annual loan interest, provided such amount does not exceed the maximum loan amount set by law. The minimum loan amount you may request is $600.
The Loan Note specifies loan amount restrictions under Section 72(p) of the Internal Revenue Code (the Code) with which you must agree to comply.
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 owner. Payouts end with the death of the second annuitant.
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.
Life annuity with five, ten or 15 years certain: 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 to the beneficiary if the annuitant should die before the elected period expires. We calculate the guaranteed payout period from the settlement date. If the annuitant
outlives the elected guaranteed payout period, we will continue to make payouts until the annuitant's death.
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.
You may surrender all or part of your contract at any time before annuity payouts begin by sending us a written request or calling us. We will process your surrender request on the valuation date we receive it. You may have to pay contract administrative charges, surrender charges, or any applicable optional rider charges and IRS taxes and penalties. You cannot make surrenders after annuity payouts begin except under Plan E.
Payouts for a specified period: We make monthly payouts for a specific payout period of ten to 30 years that you elect. We will make payouts only for the number of years specified whether the annuitant is living or not. Depending on the selected time period, it is foreseeable that the annuitant can outlive the payout period selected. During the payout period, you
can elect to have us determine the present value of any remaining variable payouts and pay it to you in a lump sum. If you do so, your monthly payouts will be reduced by the proportion of your surrender to the full discounted value. A 10% IRS penalty tax could apply if you take a surrender.
| Investment Year | Bonus Rate |
|---|---|
| 1 | 1% |
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
|
|
$30.00 | Annually | Flat Dollar Amount | Yes | No | Yes |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 7.00% |
| 2 | 7.00% |
| 3 | 7.00% |
| 4 | 6.00% |
| 5 | 5.00% |
| 6 | 4.00% |
| 7 | 2.00% |
| 8 | 0.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis:
A new surrender charge schedule starts with each new premium payment. The charge is based on the year and actual date of the payment. The surrender charge percentage is updated on the payment anniversary.
Exceptions to the Surrender Charge:
Other Restrictions:
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
Nursing Home or Other Medical Expenses:
Yes
Surrender charges do not apply to the following:
Surrenders of any contract earnings;
Surrenders of the greater of contract earnings or 10% of the prior contract anniversary contract value;
Amounts paid out as death benefits;
Amounts settled un
