|
Withdrawal Activity |
Before Withdrawal Processing |
After Withdrawal Processing |
| ||
Lifetime Withdrawals |
Income Carryforward Amount
|
Lifetime Withdrawal Amount
|
Income Carryforward Amount
|
Lifetime Withdrawal Amount
| ||
May 1, 2025 |
$8,000 |
$0 |
$8,400 |
$0 |
$400 |
Income Carryforward Calculation The Lifetime Withdrawal Amount in 2025 is $8,400, but the Contract Owner only takes $8,000. This means that an additional $400 is available for following year as Income Carryforward Amount. Assuming there are no additional withdrawal or changes made to the Income Benefit Base for the remainder of the year, then $8,800 would be available in 2026. This is the 2026 Lifetime Withdrawal Amount ($8,400) + Income Carryforward from 2025 ($400). |
January 1, 2026 |
|
-- |
-- |
$400 |
$8,400 |
|
March 1, 2026 |
$6,800 |
$400 |
$8,400 |
$0 |
$2,000 |
Income Carryforward Withdrawal Continuing the above example, any withdrawals taken in 2026 first come from the $400 Income Carryforward Amount from 2025 and any amount more than the Income Carryforward Amount is taken from the 2026 Lifetime Withdrawal Amount. In 2026, the Contract Owner withdraws $6,800 which takes $400 from Income Carryforward Amount and $6,400 from the 2026 Lifetime Withdrawal Amount. After the withdrawal, the remaining Income Carryforward Amount is $0 and the remaining Lifetime Withdrawal Amount in 2026 is $2,000.
Assuming no other withdrawals or
changes are made to the Income
Benefit Base for the remainder of
2026, then in 2027, $10,400 is
available. This is the 2027 Lifetime
Withdrawal Amount (8,400) + Income
Carryforward from 2026 ($2,000). |
|
Withdrawal Activity |
Before Withdrawal Processing |
After Withdrawal Processing |
| ||
Lifetime Withdrawals |
Income Carryforward Amount
|
Lifetime Withdrawal Amount
|
Income Carryforward Amount
|
Lifetime Withdrawal Amount
| ||
January 1, 2027 |
|
-- |
-- |
$2,000 |
$8,400 |
|
June 1, 2027 |
$1,500 |
$2,000 |
$8,400 |
$500 |
$8,400 |
Forfeited Income Carryforward Continuing the above example, any withdrawals taken in 2027, first come from the $2000 Income Carryforward amount in 2026 and any Amount more than the Income Carryforward Amount is taken from the 2027 Lifetime Withdrawal Amount. In 2027, the Contract Owner withdraws $1,500 which is taken from Income Carryforward Amount. After the withdrawal, the remaining Income Carryforward Amount is $500 and the remaining Lifetime Withdrawal Amount in 2027 is $8,400. Assuming no additional withdrawals or changes are made to the Income Benefit Base for the remainder of 2027, then $16,800 is available in 2028. The $500 Income Carryforward Amount remaining was only available in 2027 and is then forfeited in 2028. The remaining Lifetime Withdrawal Amount at the end of 2027 becomes the Income Carryforward Amount ($8,400) in 2028. The Lifetime Withdrawal Amount available in 2028 ($8,400) + Income Carryforward Amount from 2027 ($8,400) is available in 2028. |
January 1, 2028 |
|
-- |
-- |
$8,400 |
$8,400 |
|
|
Withdrawal Activity |
Before Withdrawal Processing |
After Withdrawal Processing |
| ||
Lifetime Withdrawals |
Income Carryforward Amount
|
Lifetime Withdrawal Amount
|
Income Carryforward Amount
|
Lifetime Withdrawal Amount
| ||
May 1, 2025 |
$8,000 |
$0 |
$8,400 |
$0 |
$400 |
Income Carryforward Calculation The Lifetime Withdrawal Amount in 2025 is $8,400, but the Contract Owner only takes $8,000. This means that an additional $400 is available for following year as Income Carryforward Amount. Assuming there are no additional withdrawal or changes made to the Income Benefit Base for the remainder of the year, then $8,800 would be available in 2026. This is the 2026 Lifetime Withdrawal Amount ($8,400) + Income Carryforward from 2025 ($400). |
January 1, 2026 |
|
-- |
-- |
$400 |
$8,400 |
|
March 1, 2026 |
$6,800 |
$400 |
$8,400 |
$0 |
$2,000 |
Income Carryforward Withdrawal Continuing the above example, any withdrawals taken in 2026 first come from the $400 Income Carryforward Amount from 2025 and any amount more than the Income Carryforward Amount is taken from the 2026 Lifetime Withdrawal Amount. In 2026, the Contract Owner withdraws $6,800 which takes $400 from Income Carryforward Amount and $6,400 from the 2026 Lifetime Withdrawal Amount. After the withdrawal, the remaining Income Carryforward Amount is $0 and the remaining Lifetime Withdrawal Amount in 2026 is $2,000.
Assuming no other withdrawals or
changes are made to the Income
Benefit Base for the remainder of
2026, then in 2027, $10,400 is
available. This is the 2027 Lifetime
Withdrawal Amount (8,400) + Income
Carryforward from 2026 ($2,000). |
|
Withdrawal Activity |
Before Withdrawal Processing |
After Withdrawal Processing |
| ||
Lifetime Withdrawals |
Income Carryforward Amount
|
Lifetime Withdrawal Amount
|
Income Carryforward Amount
|
Lifetime Withdrawal Amount
| ||
January 1, 2027 |
|
-- |
-- |
$2,000 |
$8,400 |
|
June 1, 2027 |
$1,500 |
$2,000 |
$8,400 |
$500 |
$8,400 |
Forfeited Income Carryforward Continuing the above example, any withdrawals taken in 2027, first come from the $2000 Income Carryforward amount in 2026 and any Amount more than the Income Carryforward Amount is taken from the 2027 Lifetime Withdrawal Amount. In 2027, the Contract Owner withdraws $1,500 which is taken from Income Carryforward Amount. After the withdrawal, the remaining Income Carryforward Amount is $500 and the remaining Lifetime Withdrawal Amount in 2027 is $8,400. Assuming no additional withdrawals or changes are made to the Income Benefit Base for the remainder of 2027, then $16,800 is available in 2028. The $500 Income Carryforward Amount remaining was only available in 2027 and is then forfeited in 2028. The remaining Lifetime Withdrawal Amount at the end of 2027 becomes the Income Carryforward Amount ($8,400) in 2028. The Lifetime Withdrawal Amount available in 2028 ($8,400) + Income Carryforward Amount from 2027 ($8,400) is available in 2028. |
January 1, 2028 |
|
-- |
-- |
$8,400 |
$8,400 |
|