If you have a Gainbridge: Retirement Flex^SM account funded with qualified retirement money (like an IRA or 401(k)), you'll need to take Required Minimum Distributions once you turn 73. RMDs are not subject to early withdrawal fees or market value adjustments, even if they exceed your 10% free withdrawal amount.

Retirement Flex grows tax-deferred, but timing rules vary by account type. Traditional accounts require RMDs starting at 73 or 75 (depending on your birth year) and a 59½ early-withdrawal penalty. Roth and Non-Qualified accounts don't have RMDs, and only the growth — not your contributions — carries the 59½ penalty.

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Yes. As the annuity owner, you can designate a payee to receive the monthly payments. Otherwise, you, the owner, will receive the payments. All payments are reported under your Social Security Number to the IRS using Form 1099-R.

Your annuity contract includes these two waivers at no extra cost. If you become terminally ill with a life expectancy of nine months or less, or if you're confined in an eligible nursing home for 90 continuous days or more, we'll waive any withdrawal fees. An eligible nursing home is a licensed hospital or licensed skilled or intermediate confinement nursing facility where medical treatment is available.

The Terminal Illness waiver is available if you are 70 years old or younger at your annuity's issue date.

The Nursing Home waiver is available if you are 75 years old or younger at your annuity's issue date.

A Market Value Adjustment is an adjustment applied to withdrawals exceeding your 10% free withdrawal amount. This is an adjustment that reflects how current interest rates compare to the interest rates in effect when the contract was originally issued.

Each year, you can withdraw up to 10% penalty-free. Withdrawals above that amount are subject to withdrawal charges and market value adjustments.

In your first year, the 10% is calculated from your initial deposit. After that, it's 10% penalty free based on your account value each anniversary.

This gives you access to your earnings while your money continues to grow.

An early withdrawal fee applies to withdrawals over 10% in a given year before the end of your term. Early withdrawal fees typically start at 5% in the first year and decrease over the guaranteed term.

In the first year, you can withdraw up to 10% of your deposit. Starting in the second year, you can withdraw up to 10% of your account's anniversary value. These withdrawals are not subject to withdrawal or market value adjustment charges; however if you are under 59 1/2 an IRS early withdrawal tax penalty may apply to a withdrawal from a Save Retirement Account.

Gainbridge has no annual fees or sales commissions.

Each year, you can withdraw up to 10% penalty-free. Withdrawals above that amount are subject to withdrawal charges and market value adjustments. In your first year, the 10% is calculated from your initial deposit. After that, it's based on your account value each anniversary.

Yes. Once your contract has been open through at least one calendar year-end (12/31), we calculate your Required Minimum Distribution (RMD) amount for you when it applies. Your RMD is always free of surrender charges, no matter where in your contract the money is coming from. Since taking an RMD isn't yet available for self-service in the portal, call our team at 1-866-252-9439 and we'll walk you through it.

There are no annual or maintenance account fees and no sales commissions. We don't charge you to open an account, hold one, or add money to it.

The costs that exist are tied to taking money out of a term before it ends. Withdrawing more than your annual 10% free amount brings an early withdrawal fee and, in most states, a market value adjustment and for Retirement Flex and IRS tax penalty for any withdrawal before age 59 1/2. In California and Nevada, a state premium tax also applies if you fully withdraw your contract or convert it to income payments.

Because we don't pay agent commissions, more of what your money earns goes to your rate.

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No. There's no early withdrawal fee and no market value adjustment on Cash Wallet money, because it isn't committed to a term. You can withdraw from it anytime.

Taxes are separate from Gainbridge℠ contract charges. How a Cash Wallet withdrawal is taxed depends on your account type and your age, and an IRS penalty can apply to withdrawals from Retirement Flex if made before age 59½.

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Some of your money can be withdrawn at no cost. Taking more than that out of a term before it ends comes with a charge.

Money in your Cash Wallet is available anytime with no charge. Beyond that, you can withdraw up to 10% of your term balances each calendar year without a charge, and there's no charge on money withdrawn in the 30 days before a term ends.

Anything above that comes with an early withdrawal fee, and in most states a market value adjustment, which can raise or lower what you receive. The fee depends on how long your term is and how far into it you are, and you'll see the exact amount before you confirm a withdrawal.

Taxes are separate from these charges and apply even when there’s no fee. Taxable amounts withdrawn from a Retirement Flex account are generally taxable as ordinary income, with an additional IRS 10% penalty if withdrawn before age 59½.

There's also a 30-day window after your contract is issued when you can cancel and get your money back. That window runs from your contract date, not from each deposit, so adding money later doesn't start a new cancellation period.

You can see the charges associated with a withdrawal before you confirm it, and our customer service team is available by phone if you want more information about fees and taxes on withdrawals.

A market value adjustment (MVA) can increase or decrease the amount you receive when you withdraw before the end of a term. It applies to a withdrawal over your free withdrawal amount, and it’s in addition to any early withdrawal fees unless you're in the 30-day window before the term's end date, when MVA doesn't apply regardless of amount.

The MVA is based on how the benchmark interest rates have changed since you committed money to your term. If rates have risen, the adjustment reduces what you receive. If rates have fallen, it increases it. The further you are from the term's end date, the larger the effect.

The MVA doesn't apply to Cash Wallet money, to withdrawals within your free amount, to withdrawals in the 30 days before a term ends, or to contracts issued in California.

An early withdrawal fee applies to withdrawals over 10% in a given year before the end of your term. Early withdrawal fees typically start at 5% in the first year and decrease over the guaranteed term.

Each calendar year, you can withdraw up to 10% of your term balances without an early withdrawal fee or market value adjustment. If a term is within 30 days of ending, that balance is available in full with no charge — it doesn't count against your 10%. You can take it from any term you choose, all at once or in several withdrawals, but any amount you don't use doesn't carry over to the next year.

The free amount is based on money you've committed to terms, not on your Cash Wallet, since Cash Wallet money is already available with no charge. The available amount resets every January 1 using your balances at the close of the prior year, and it adjusts through the year as you add money or take it out.

Taxes are separate from Gainbridge℠ contract charges. How a withdrawal is taxed depends on whether you have Flex or Retirement Flex and on your age, and an IRS penalty can apply to Retirement Flex withdrawals before age 59½. Your tax advisor can tell you what applies to your situation.

Your available free amount is shown in your account, so you don't have to work it out yourself.

You can request a withdrawal from your account online, without calling.

When you enter an amount, you’ll see an estimate of what you’ll receive before confirming, including any early withdrawal fee or market value adjustment. For Gainbridge: Retirement Flex^SM, you can also choose your tax withholding.

The amount shown reflects contract charges only, not taxes you may owe. Funds are deposited to the bank account you’ve linked.

If you’d rather have someone walk you through it, our customer service team is available by phone. They can explain the steps and costs but can’t provide personalized financial or tax advice.

You can receive your balance as a lump sum, convert it to regular income payments through annuitization, or roll it into a new annuity.

Some of your money can be withdrawn at no cost. Taking more than that out of a term before it ends comes with a charge.

Money in your Cash Wallet is available anytime with no charge. Beyond that, you can withdraw up to 10% of your term balances each calendar year without a charge, and there's no charge on money withdrawn in the 30 days before a term ends.

Anything above that comes with an early withdrawal fee, and in most states a market value adjustment, which can raise or lower what you receive. The fee depends on how long your term is and how far into it you are, and you'll see the exact amount before you confirm a withdrawal.

Taxes are separate from these charges, and apply even when there’s no fee. Taxable amounts withdrawn from a Retirement Flex account are taxed as ordinary income, with a possible additional IRS 10% penalty if withdrawn before age 59½.

There's also a 30-day window after your contract is issued when you can cancel and get your money back. That window runs from your contract date, not from each deposit, so adding money later doesn't start a new one.

You can see what a withdrawal would cost before you confirm it, and our customer service team is available by phone if you want to talk it through first.

If it's a Traditional IRA-style account, yes — current law requires you to start Required Minimum Distributions (RMD) at 73 if you were born 1951–1959, or 75 if you were born in 1960 or later. If you were born before 1951, your RMDs have likely already started. Roth IRA-style accounts don't have this requirement during your lifetime. If RMD timing is on your mind, you may want to consider shorter terms that mature around when your RMDs start, so you're not forced to break one early. RMDs continue every year thereafter, but you can generally take the total required from all your IRAs.

Yes, but know the tradeoffs. Traditional IRA-style withdrawals are taxed as ordinary income on the full amount. Non-Qualified withdrawals are taxed as ordinary income on the growth portion only (your original contributions aren’t; that money was already taxed), and withdrawals are generally treated as coming from growth first. Withdrawing from either account type before 59½ may add a 10% IRS penalty on the taxable portion. Pulling money out before a term ends can add a surrender charge on top of that.

Roth contributions — the money you put in — can come out anytime, tax-free and penalty-free. The growth is different: it generally only comes out tax-free and penalty-free if you’re age 59½ or older and at least 5 years have passed since you first contributed to any Roth IRA. Take out growth before meeting both of those, and you can owe income tax and the 10% penalty, same as early growth from a Non-Qualified account. If you’re already 59½, the penalty doesn’t apply, only the income tax. Money you converted from pre-tax savings has its own rule: if you’re under age 59½, you may owe the 10% IRS penalty if you withdraw it within 5 years of conversion. Surrender charges or a market value adjustment can apply to a Roth withdrawal before the end of a term, too.