ANNUITY PAYMENTS If you elect to receive Annuity Payments, you may apply your Contract Value to any Annuity Payment option in accordance with your contract terms. If you apply less than the entire Contract Value to provide Annuity Payments under an Annuity Payment option, that amount will be treated as a withdrawal for purposes of adjusting the Benefit Base and GAI. If Annuity Payments are required to begin and the Designated Life is the oldest Annuitant, you may elect from an additional annuity payment option to receive an annual amount equal to the GAI at any frequency offered by us, but at least annually, until the death of the Designated Life. Required Minimum Distribution (RMD) This provision applies if your contract is a Qualified Contract and is subject to required minimum distribution (RMD) provisions pursuant to the Internal Revenue Code (the “Code”), as amended from time to time, and the Treasury Regulations issued thereunder. A withdrawal in any Contract Year after you are eligible for an RMD will not be treated as an excess withdrawal if that withdrawal does not cause the total withdrawals for the Contract Year to exceed the greater of the GAI or your RMD for the current calendar year. Such treatment is contingent on your acceptance of our calculation of the RMD amounts. RMD calculations will be based solely on the value of this contract and any attached riders and will be determined for the calendar year in which the RMD withdrawal is requested. Each RMD amount is calculated based on information provided by you and our understanding of the Code. We reserve the right to make changes in our calculations, as needed, to comply with the Code and Treasury Regulations. While this contract is subject to RMD provisions, the benefit will be treated as follows: • Each Contract Year the GAI will be calculated as described in the Guaranteed Annual Income section above. The GAI will not be changed based on the RMD requirement. • If the RMD amount is greater than the GAI, the Benefit Base and GAI will not be reduced for withdrawals up to the RMD amount. A123456 ICC20-70591 Minnesota Life 4 Amounts withdrawn in any Contract Year in excess of the greater of GAI or RMD will be treated as an excess withdrawal. If the RMD amount for two calendar years is withdrawn in a single Contract Year, your withdrawal may be subject to excess withdrawal treatment to the extent the Contract Year withdrawals exceed the greater of the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. Excess Withdrawal Considerations An excess withdrawal is any withdrawal prior to the Benefit Date or a withdrawal after the Benefit Date that exceeds the GAI for the Contract Year. 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. Excess withdrawals can reduce future benefits by more than the dollar amount of the excess withdrawal. A deferred sales charge, as defined in the contract to which this rider is attached, may apply if excess withdrawals exceed the contract’s free withdrawal amount. Any forms provided by us to facilitate the Written Request of a withdrawal will include:
