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" ... A rollup such as Group Nine is pondering might be necessary to aggregate enough scale to make the resulting merged operation big enough to attract public investors. ... "
" ... There is another way that lifetime income benefits can be structured that moves away from the hypothetical benefit base and the rollup rate. This alternative approach also exists for deferred variable annuities, but it is more commonly found with FIAs and so is discussed here. ... "
" ... Typically, variable annuities end their guaranteed rollup provisions once guaranteed lifetime distributions commence. Step-up opportunities do continue for the guaranteed benefit base whenever the underlying contract value of assets reaches a new high watermark on the relevant dates. When step-ups can happen more frequently than annually, then the usual process is that on the contract anniversary date there is a look-back to determine the high watermark on the relevant dates over the past year and any step-up is then vested at this time. Then, applying the guaranteed withdrawal rate to the higher benefit base at the anniversary date will allow for larger subsequent lifetime guaranteed withdrawals. It is important to keep in mind that step-ups will become less likely after distributions begin because it will require the contract value to achieve new high watermark values net of distributions and fees. ... "