Investing

Steady Income Stream - People are living longer, so money for retirement must last longer. But inflation’s corrosive effects diminish the buying power of retirement dollars just when retirees can least afford it.

To help retirement income keep pace with inflation and ensure retirees still have guaranteed income, Thrivent Financial for Lutherans has introduced a new Single Premium Immediate Annuity (SPIA) that includes a payment type adjusted for inflation.

With Consumer Price Index (CPI)-adjusted annuity payments—a unique offering in the industry—payments are linked to the CPI, a commonly used inflation measurement tool, and are guaranteed to never decrease. If deflation rather than inflation occurs, annuitants will never receive less than the amount they received the previous year.

“This new annuity is part of Thrivent Financial’s goal of helping our members prepare for and thrive in retirement,” said Ann Koplin, director of annuity product marketing. “Now our members can have a steady income stream in retirement and have that stream protected against the effects of inflation.”

Thrivent Financial’s SPIA offers two additional payment types:

• Fixed percentage increase annuity payments that adjust each contract year by a fixed annual percentage from 1 to 5 percent, based on the annuitant’s choice.
• Level annuity payments that remain equal throughout the entire payment period.

In addition, the Thrivent Financial SPIA offers several income payment options. Annuitants can receive payments over their lifetime, over the lifetime of two people, for a fixed period of time or for a specified amount (only available with the level annuity payment type). SPIA may not be available in all states. Check with your financial representative for availability. [Form numbers 4474, A-IA-SPIA (07),
A-IP-SPIAP (07) and A-IX-SPIAX  (07).]

Call your financial representative for more information.