RILAs
Answer: A 1-year segment of a RILA carriers this type of risk that wouldn’t apply to a 6-year segment
Question: What is Renewal Rate Risk?
Answer: The U.S. federal tax system uses this structure where higher portions of income are taxed at higher rates.
Question: What is a progressive tax system?
Answer: A spouse may receive up to this percentage of the worker’s full retirement benefit.
Question: What is 50%?
Answer: Employees and employers each pay this percentage of wages toward Social Security.
Question: What is 6.2%?
Answer: The two main types of charitable remainder trusts are these.
Question: What are CRATs and CRUTs?
Answer: The person who creates a trust is known by this term.
Question: What is a grantor?
Answer: Some RILAs charge this type of annual fee for additional benefit features.
Question: What is a rider fee?
DB, Liquidity, Income
Answer: This tax rate applies to the last dollar of income earned.
Question: What is the marginal tax rate?
Answer: A surviving spouse can receive up to this percentage of the deceased worker’s benefit.
Question: What is 100%?
Answer: The maximum amount of earnings subject to Social Security tax each year is known as this.
Question: What is the Social Security wage base?
Answer: The charitable beneficiary of a CRT must be this type of organization.
Question: What is a qualified 501(c)(3) charity?What is a pop up message?
Answer: The tax rate applied to large taxable estates at the federal level can reach this percentage.
Question: What is 40%?
Answer: This companies offers a Liquidity Rider on their 6 year RILA product for 0.30% fee
Q: Who is Sammons Retirement Solutions (Will Accept Midland)?
Answer: This rule determines when converted Roth funds can be withdrawn without penalty.
Question: What is the Roth conversion five-year rule?
Answer: Divorced spouses may claim benefits if the marriage lasted at least this long.
Question: What is 10 years?
Answer: Social Security calculates benefits based on the highest number of working years of earnings.
Question: What is 35 years?
Answer: The payout amount in a CRAT is determined based on this value at the time the trust is created.
Question: What is the initial fair market value of the trust assets?
Answer: This planning strategy allows a surviving spouse to use the unused estate tax exemption of the deceased spouse.
Question: What is portability?
Answer: This company offers a Dual Directional Yield Segment that will pay a specified interest rate as long as the underlying index doesn’t fall below a pre-set percentage
Q: What is Global Atlantic?
Answer: These 2 percentages are technically the lowest and highest someone will pay in federal taxes for capital gains
Question: What is 0 and 37%
Answer: If both spouses are divorced and eligible, this many ex-spouses can collect benefits on the same worker’s record.
Question: What is an unlimited number?
Answer: COLA increases are applied beginning in this month each year.
Question: What is January?
Answer: This type of CRUT limits payments to trust income until a triggering event occurs.
Question: What is a Net Income with Makeup CRUT (NIMCRUT)?
Answer: Assets transferred before death may retain the donor’s original cost basis under this rule.
Question: What is carryover basis?
Answer: RILAs may help investors stay invested by reducing this behavioral reaction during market downturns.
Question: What is panic selling?
Answer: This percentage is the exact amount a CA resident will pay in Long Term Capital Gains when Taxable income exceeds $1,500,000
Question: What is 37.1%?
Federal LTCG 20%, Net Investment Income Tax (NIIT) 3.8%, CA - 13.3%
***Must Bet points before revealing question ****DOUBLE JEOPARDY
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Answer: Surviving spouses may claim benefits as early as this age.
Question: What is age 60?
Answer: This indexed earnings measure determines the base amount used to calculate Social Security benefits.
Question: What is Average Indexed Monthly Earnings (AIME)?
Answer: CRT distributions are taxed in the following order.
Question: What is ordinary income first, then capital gains, then other income, and finally principal (Corpus) ?
Answer: This tax applies to transfers that skip a generation, such as directly to grandchildren.
Question: What is the Generation-Skipping Transfer Tax? (Will Accept GST)
Note to Kai mention GST-exempt dynasty trust