Common use of Annuity Contract Clause in Contracts

Annuity Contract. This is a group deferred annuity contract. It is a legal contract between the Contract Holder, as the owner, and Us, RiverSource Life Insurance Company, a stock company, Minneapolis, Minnesota. PLEASE READ YOUR CONTRACT CAREFULLY. RiverSource Life Insurance Company agrees to provide benefits to or on behalf of Participants or beneficiaries according to the terms and conditions provided in this contract and described in Certificates provided to each Participant. We issue this contract in consideration of the payment of the purchase payments for allocation to each Participant's Certificate Account as directed. ACCUMULATION VALUES AND ANNUITY PAYMENTS, WHEN BASED ON THE INVESTMENT RESULTS OF THE VARIABLE SUBACCOUNTS, ARE VARIABLE AND NOT GUARANTEED AS TO FIXED DOLLAR AMOUNT. SEE THE ACCOUNTS: FIXED AND VARIABLE SECTION FOR VARIABLE ACCOUNT PROVISIONS. OPTIONAL RIDER CHARGES MAY REDUCE A PARTICIPANT'S DEATH BENEFIT AMOUNT TO LESS THAN THE CERTIFICATE ACCOUNT VALUE. SEE THE PAYMENTS TO BENEFICIARIES PROVISIONS. NOTICE OF THE PARTICIPANTS' RIGHT TO EXAMINE THE CERTIFICATE FOR TEN DAYS. If for any reason a Participant is not satisfied with the Certificate, he or she may cancel enrollment in this contract by returning the Certificate to Us or Our agent within ten Days after receiving it. Upon such cancellation We will refund an amount equal to the sum of: (1) any purchase payments allocated to the Certificate Account, plus or minus any change in value, at the end of the Valuation Period during which We receive the Certificate; and (2) any premium tax charges paid. The Participant's enrollment under the contract will then be considered void from the start. Signed for and issued by RiverSource Life Insurance Company of Minneapolis, Minnesota, as of the Contract Date. - Employer Plan - Group Deferred Annuity Individual Participant Allocation - Variable Accumulation Values - Optional Fixed Dollar or Variable Annuity Payments - This Contract is Nonparticipating -- Dividends Are Not Payable GUIDE TO CONTRACT PROVISIONS Important contract specifications, fund allocations, fees and charges DEFINITIONS Pages 4-6 Important words and meanings GENERAL PROVISIONS Pages 7-9 Entire Contract Annuity Tax Qualification Contract Modification Plan Limitations Discontinuance of Enrollment under this Contract Incontestable Benefits Based on Incorrect Data State Laws Reports to Participants Evidence of Survival Protection of Proceeds Payments by Us Voting Rights Nonforfeitable Contract Not Intended for Use with ERISA Plans Optional Retirement Plan Provisions Military Personnel Rights IRS Levy Contract Holder and Participant Rights Change of Ownership Beneficiary Change of Beneficiary Pre-election of an Annuity Payment Plan PAYMENTS TO BENEFICIARIES Pages 11-13 Spouse's Option to Maintain Certificate Account Death of a Participant Before the Annuitization Start Date/Amount Payable Before the Annuitization Start Date Death of a Participant or a Beneficiary Receiving Payments After the Annuitization Start Date Purchase Payments Additional Purchase Payments Payment Limits Allocation of Purchase Payments Contributions/Excess Deferrals and Excess Contributions/Vesting/Rollover Contributions into Certificate Accounts/Plan to Plan Transfers to Certificate Accounts/Contract Exchanges to Certificate Accounts/Mistaken Contributions/ Nondiscrimination Requirements Discontinuance of Purchase Payments under this Contract Privacy Policy The Fixed Account/Interest to be Credited TheVariable Account/Investments of the Variable Account/Valuation of Assets/Variable Account Accumulation Units/Variable Account Accumulation Unit Value/Net Investment Factor/ Mortality and Expense Risk Charge/Variable Account Administrative Charge/Annuity Unit Value CERTIFICATE ACCOUNT VALUE Pages 20-22 Certificate Account Value Certificate Account Value in the Variable Account Certificate Account Value in the Special DCA Fixed Account Certificate Account Value in the Loan Account Certificate Administrative Charge Premium Tax Charges Transfers of Certificate Account Values Dollar Cost Averaging Special DCA Fixed Account SURRENDER PROVISIONS Pages 23-26 Surrender Rules for Surrender of this Contract Distributions from Certificate Accounts Rules for Surrender of Certificate Accounts Surrender Value Surrender Value Suspension or Delay in Payment of Surrender Amount Surrender Restrictions Before a Participant's Age 59 1/2/Financial Hardship Distributions/ Additional Restrictions on Distributions of Designated 403(b) R▇▇▇ Accounts/Direct Rollover Distributions Required Minimum Distributions/Multiple 403(b) Annuity Contracts and 403(b)(7) Custodial Accounts/Annuity Payment Plan Options Qualified Domestic Relations Orders Permissive Service Credit Transfers Distributions Due to Termination of the Plan CERTIFICATE ACCOUNT LOANS Pages 27-29 Loan Account Loan Balance Loan Payments/Military Service/Leave of Absence Loan Defaults ANNUITY PROVISIONS Pages 30-31 Annuity Payment Change of Annuitization Start Date Annuity Payment Plans Plan Selection Allocation of Certificate Account Values to Provide Fixed and Variable Payments Fixed Annuity Payments Variable Annuity Payments/Determination of the First Variable Annuity Payment/Variable Annuity Payments After the First Payment Exchange of Annuity Units Tables showing amount of first Variable Annuity payment and the guaranteed Fixed Annuity payments for the various payment plans