Income Annuity Accounts

Note:The Income Annuity editor is only found in the Deluxe version of TRAK.

The Income Annuity accounts allow for adding insured income accounts to retirement. While not all insured account scenarios are implemented, many have been. (If you have an annuity model that you do not believe will illustrate, please contact us. You may email or call 503-831-1111).


Each of the prompts are discussed below.

Account Name

Enter the name associated with the account. This must be unique for the accounts.

Account Balance

Enter the balance of the account. Note there will be no growth on this account balance.

Payout Options

Annual Payout Percent

Enter the percent of the account balance that is paid out each year. Note that this calculation is based on the entered account balance, and is not recalculated each year.

Payout Frequency

Enter the payment frequency. The first payment is assumed to occur when distributions start (configured in prompts below).

Payout Term

Select the term of the payment. Options are:

Single Life: Payments are for life of the owner.

Single Life, Term Certain: Payments are for the lifetime of the account owner and have a minimum number of years the payments will be made.

Joint Life: Payments are for the life of the client and spouse.

 Period Certain: Payments are for a specific period of time.

Survivor Reduction

This prompt will appear if Payout Term is Joint Life and a spouse is included in the illustration. Enter the percent reduction after the first death.

Account Owner

This prompt is included if the spouse is included in the illustration and the Payout Term is either Single Life or Single Life, Term Certain. Select if the account is owned by the client or spouse.

Payout Years

This prompt is only displayed if the Payout Term is Single Life, Term Certain or Period Certain. Enter the number of years the payout is guaranteed.

Guaranteed Return of Principal

If the return of principal is guaranteed, check this box.

Payout Begins

The prompts in this list will differ according to the Payout Term and if the spouse is included in the illustration.

COLA Method

Select the COLA (cost of living adjustment) method for the payment. The options include None, Inflation, and Custom.

Annual COLA during Distribution

This prompt appears when Custom is selected for COLA Method. Enter the annual COLA increase.