GAI definition
Examples of GAI in a sentence
The portion of each individual withdrawal during a Contract Year that is treated as an excess withdrawal is equal to the amount withdrawn, including any applicable deferred sales charge, less any GAI remaining prior to the withdrawal for that Contract Year.
If the RMD amount for two calendar years is withdrawn in a single Contract Year, your withdrawal may be subject to excess withdrawal treatment to the extent the Contract Year withdrawals exceed the greater of the GAI or current calendar year RMD amount.
Prior to the Benefit Date, the annual report will provide a projected Benefit Base and GAI as of the Benefit Date assuming no Benefit Base Resets and no further contract activity.
After the Benefit Date, the annual report will provide the GAI as of the date of the report.
Amounts withdrawn in any Contract Year in excess of the greater of GAI or RMD will be treated as an excess withdrawal.