7 More Family Office Resources:

• Guaranteed Minimum Income Benefit Family Office Definition: Guaranteed Minimum Income Benefit Guaranteed Minimum Income Benefit definition:  The guaranteed minimum income benefit is an optional rider for variable annuity contracts.  Because the distributions from variable annuities are dependent on ...
• Guaranteed Minimum Withdrawal Benefit Family Office Definition: Guaranteed Minimum Withdrawal Benefit Guaranteed Minimum Withdrawal Benefit definition:  The guaranteed minimum withdrawal benefit is an optional rider for variable annuity contracts. Generally, elective withdrawals (outside of regular annuity distribution payments) ...
• Guaranteed Lifetime Withdrawal Benefit Family Office Definition: Guaranteed Lifetime Withdrawal Benefit Guaranteed Lifetime Withdrawal Benefit definition:  The guaranteed lifetime withdrawal benefit is an optional rider for variable annuity contracts in the accumulation phase. Generally, elective withdrawals (outside of ...
• Guaranteed Death Benefit for Annuity Family Office Definition: Guaranteed Death Benefit for Annuity Guaranteed Death Benefit for Annuity definition:  When the annuity account holder dies before receiving any payments, the guaranteed death benefit pays the beneficiary the higher of ...
• Guaranteed Earning Increase Death Benefit Family Office Definition: Guaranteed Earning Increase Death Benefit Guaranteed Earning Increase Death Benefit definition:  When the annuity account holder dies before receiving any payments, the guaranteed earning increase death benefit pays the beneficiary the ...
• Excess Accumulation Penalty Family Office Definition: Excess Accumulation Penalty Excess Accumulation Penalty definition:  The excess accumulation penalty is owed to the IRS for any retirement account owner or beneficiary of inherited accounts that fails to take the ...
• Required Minimum Distributions Family Office Definition: Required Minimum Distributions Required Minimum Distributions definition:  Required minimum distributions are calculated (using fair market value and life expectancy) and applied to the owners of traditional, SEP, and SIMPLE IRAs at ...