DISCONTINUED PRODUCT - Product not available to new enrollees.
RetireMax FPDA4
Product ID: 82
Type:
Fixed Annuity
Discontinued 
1%
AM Best:
Moody's:
S&P:
16 Years / 12.50%
Yes
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Address: - Product Details
- Fees and Charges
This is a flexible premium annuity designed for salary reduction but it will accept rollovers/transfers. The descriptions herein are general due to space limitations. For exact details of this annuity please see the certificate form.
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The minimum loan is $500 and the maximum $50,000, subject to IRC rules and dependent upon cash value. Personal loans must be repaid within 5 years, while loans to acquire a home may be repaid over a longer period. Level quarterly payments are required. LSW charges a variable loan interest rate, resulting in a net loan cost of 2.50%.
Required Minimum Distribution mandated byt he IRC which must begin at age 70 1/2 or by April 15th of the year following attainment of age 70 1/2.
Equal monthly payments made during the joint lifetime of two persons and the remaining lifetime of the survivor.
Equal monthly payments for the lifetime of the Annuitant. Payments stop when the Annuitant dies.
Equal monthly payments made for a certain period (i.e., 10 years, 20 years) and then for as long as the Annuitant is alive.
Equal monthly payments until LSW has paid the amount applied and then for as long as the Annuitant is alive.
Full Cash Value paid in a single sum on the annuity date.
Equal monthly payments for the number of years selected.
Additional Bonus Credit
Each premium received in the first policy year will receive an additional 1% interest for 12 months.
These rates may change without notice. Contact your provider for the most current rates.
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.
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 12.50% |
| 2 | 12.50% |
| 3 | 12.50% |
| 4 | 12.00% |
| 5 | 11.00% |
| 6 | 10.00% |
| 7 | 9.00% |
| 8 | 8.00% |
| 9 | 7.00% |
| 10 | 6.00% |
| 11 | 5.00% |
| 12 | 4.00% |
| 13 | 3.00% |
| 14 | 2.00% |
| 15 | 1.00% |
| 16 | 0.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis:
No.
Exceptions to the Surrender Charge:
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
