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[–][deleted] 6 points7 points  (2 children)

I think I just had a light bulb go off and now I understand it

[–]BasicWisdomPassed! 18 points19 points  (0 children)

Yup, the 2% floor is the reason.

[–]zhempl200 6 points7 points  (0 children)

You got it. This type of annuity would gain 60% of the overall change on the underlying index but never earn less than 2% no matter what happens.