Annuities
You do have the ability to account for lifetime annuities in My Plan.
You have the ability to enter current and future annuities in My Plan.
Current Annuities
To enter a current annuity in your plan, follow these steps:
STEP 1: Head on over to My Plan > Income > Annuities and select Add an Annuity +
STEP 2: Select the user who owns the annuity
STEP 3: Select Yes when asked whether you have purchased this annuity yet
STEP 4: Enter a descriptive name for the annuity
STEP 5: Enter the monthly pre-tax income
STEP 6: Select the start age and stop age
STEP 7: Select the tax treatment
STEP 8: Select an optimistic and pessimistic COLA
STEP 9: Add any relevant survivor benefit
STEP 10: Save
Future Annuities
To enter an annuity you plan to purchase or explore the impacts of a future annuity on your plan, follow these steps:
STEP 1: Head on over to My Plan > Income > Annuities and select Add an Annuity +
STEP 2: Select the user who will earn the income
STEP 3: Select No when asked whether you have purchased this annuity yet
STEP 4: Enter the amount you plan to invest in future dollars
STEP 5: Select the account you plan to use to purchase the annuity
STEP 6: Select the purchase age
STEP 7: Select the age at which you will receive the annuity
STEP 8: Select the COLA (if applicable)
STEP 9: Select the survivor benefit (if applicable)
STEP 10: Save