Within the Structured Income Planning Add Account function, SIPS lets you model an annuity and its income rider. If the income rider payout you need isn't available in the drop-down, you can manually enter both the annuity and the income rider payout amount instead. This article walks you through that manual entry process step by step. Below are the hypothetical numbers we'll use for the annuity in this example. We'll start on the Structured Income Planning landing page.
Related Articles and Sections: Adding an Annuity with a Pre-Existing Income Rider, Tax Calculation Options for Accounts, View Income Riders Function
Annuity Asset:
- Initial Account Balance: $250,000
- Hypothetical Return: 2%
- Bonus Percentage: 10%
- Registration Type: Qualified (Tax Income Distributions)
- Asset Plan Allocation: Indexed Annuity
- Rider Payout: $17,500
- Rider Payout Increase: 1%
- Anticipated Month to turn on income from this product: September
- Age of Payout: 67
Step 1: Edit: Click on the green Edit button underneath the structured income planning subheading title. 
Step 2: Add Account: Click on the green Add Account button underneath the structured income planning subheading.
Step 3: Account Name: Enter an account name. 
Step 4: Initial Account Balance: Enter the amount for the annuity. This is cash value used to fund the annuity prior to any bonuses in the product.
Step 5: Hypothetical Return: Enter the hypothetical return. 
Step 6: Bonus: Enter the bonus percentage amount.
Step 7: Tax Calculation Option: Click on the drop-down caret arrow in the text box and select the tax calculation option. This should match the taxability of the annuity with an income rider. See Article: Tax Calculation Options for Accounts
Step 8: Sel: Click on the green Sel button next to the text box for the asset plan allocation and select the asset plan allocation.
Step 9: Enter Manual Payout Textbox: Click on the text box. 
Step 10: Rider Payout Value: Type in the monetary amount in the text box. This will be the starting annual income amount the annuity will generate once the income feature is turned on.
Step 11: Rider Payout Increase: Type in the monetary percentage into the text box. If there is no increasing payout in the product, keep this as 0%, otherwise populate what the expected annual growth rate of the income amount.
Step 12: Number of Months of Payout in First Year: Type in the number of months in the text box. The default is set to 12, suggesting the income feature would be enabled in January.
Step 13: Income Rider: Click on the radio button for Start payout from income rider. 
Step 14: Income Data: Click on the text box for the year you would like the Income Data to start. 
Step 15: Start Year for Rest of Plan: Click on the green Start year for rest of plan button next to the Income Data Table. 
Step 16: Income Data: SIPS will automatically populate the term "Payout" within the income section of the table. 
Step 17: Save: Click on the green Save button underneath the Manage Account Subheading. 
Step 18: Structured Income Plan: SIPS will automatically take you back to the Structured Income Planning page. A new column under Accounts should automatically appear. 
Step 19: Income age 67: Take note that the income at age 67 is a partial amount.
Step 20: Income Column: Take note that the income column has been increased by 1% per year. 
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