An article in the July 7 issue of Retirement Income Journal, “Is a Two-Cylinder VA Better Than a Single?”, misidentified a variable annuity contract issued by Axa Equitable. The correct name of the product is Retirement Cornerstone, not Cornerstone.
As of March 1st, Retirement Cornerstone has a one-year, not a five-year, waiting period for penalty-free withdrawals and it does not require annuitization, as the article may have unintentionally implied.
© 2010 RIJ Publishing LLC. All rights reserved.
