CLIP Wealth

Credits help you boost your retirement income for longer.

CLIP credits are used during retirement to provide additional income to you. When you retire, some of your credits are converted into cash whenever a payment is due according to your Target Retirement Income Plan (TRIP).

Using both your Personal Account and your CLIP Account to pay for your retirement income makes your money last longer.

Example of using your credits:
If you have saved $500,000 in your Personal Account and have a plan to get $10,000 per month in retirement income, your CLIP Account can help your savings last longer. In this example, your CLIP Account has grown to $50,000 over time without any additional money saved by you. It is used proportionally to pay some of your retirement income as the table below shows. With CLIP, 10% of the income is funded by converting credits to cash of $909 so your Personal Account funds only 90% or $9,091 of income.
WITH CLIP
Personal Account CLIP Account Total
Starting Balance $500,000 $50,000 $550,000
Retirement Income $9,091 $909 $10,000
Ending Balance $490,909 $49,091 $540,000
Without CLIP, your income of $10,000 would have been funded entirely by your Personal Account, and your ending balance would be $490,000. That is $909 less than the Personal Account balance with CLIP of $490,909.
WITHOUT CLIP
Personal Account CLIP Account Total
Starting Balance $500,000 $0 $500,000
Retirement Income $10,000 $0 $10,000
Ending Balance $490,000 $0 $490,000

	Personal Account	CLIP Account	Total
Starting Balance	$500,000	$50,000	$550,000
Retirement Income	$9,091	$909	$10,000
Ending Balance	$490,909	$49,091	$540,000

	Personal Account	CLIP Account	Total
Starting Balance	$500,000	$0	$500,000
Retirement Income	$10,000	$0	$10,000
Ending Balance	$490,000	$0	$490,000

Using credits with CLIP makes your Personal Account last longer.

Using Your Credits