The purpose of this report is to supplement the Summary Cash Flow by showing running balances of each bucket, year over year, along with gross distributions and returns.
What does each column on this report mean?
Year - Every year of the plan from today to the end of the plan
Age - Client and co-client age in every year of the plan
Taxable Accounts (All non-FIA accounts in the taxable category)
Beginning Balance - The beginning of the year balance of all taxable accounts + excess income
Gross Distribution - The gross distribution (i.e., distribution + capital gains taxes) from the Taxable buckets (including Excess Income)
Pre-Tax Accounts (All non-FIA accounts in the pre-tax category)
Beginning Balance - The beginning of the year balance of all pre-tax accounts
Gross Distribution - The gross distribution (i.e., distribution + income taxes) from the Pre-Tax buckets
Tax-Free Accounts (All non-FIA accounts in the pre-tax category)
Beginning Balance - The beginning of the year balance of all tax-free accounts
Gross Distribution - The gross distribution from the Tax-Free bucket.
Accumulation FIAs (Accumulation FIAs + RILAs, regardless of tax category)
Beginning Balance - The beginning of the year balance of all accumulation FIAs/RILAs. If a transfer happens in a year, add the net transfer to any other beginning FIA/RILA balances for that year. In this way, we can see the transfer leaving one source, and being added here.
Gross Distribution - The gross distribution from all Accumulation FIAs in a given year, across all tax categories
Guaranteed Income Annuity (All GIA’s, regardless of tax category)
Gross Payout - The sum of all payouts from all GI FIAs in a given year, across all tax categories
IULs
GI IUL Payout - The sum of all guaranteed income IUL payouts for a year
Beginning Cash Value - The beginning of the year cash value balance of all IULs. If a transfer happens in a year, add the net transfer to any other beginning IUL cash value balances for that year. In this way, we can see the transfer leaving one source, and being added here.
Gross IUL Distributions - The sum of all IUL distributions, excluding GI IUL payouts
Returns
Portfolio - The weighted average return experienced by the portfolio for the given year
Accumulation FIAs - The weighted average return experienced by all Accumulation FIAs for the given year
IULs - The weighted average return experienced by all IULs for the given year, including GI IULs
Cumulative Wealth - The ending value of all buckets for the given year