ACCUMULATION UNITS. The interest of this contract in the Separate Account, prior to the date on which amounts become payable under a payment plan, is represented by Accumulation Units. The dollar value of Accumulation Units for each Division will increase or decrease to reflect the investment experience of the Division. The value of an Accumulation Unit on any Valuation Date is determined by multiplying: - the value on the immediately preceding Valuation Date; by - the Net Investment Factor for the period from the immediately preceding Valuation Date up to and including the current Valuation Date (the current period).
ACCUMULATION UNITS. For each Contribution, the number of Accumulation Units credited to the Owner for a Sub-Account will be determined by dividing the amount of the Contribution, by the accumulation unit value for that Sub-Account on the applicable Transaction Date.
ACCUMULATION UNITS. The Separate Account Contract Value will go up or down depending on the performance of the Investment Divisions. In order to monitor the Separate Account Contract Value during the accumulation phase, the Company uses a unit of measure called an Accumulation Unit. The value of an Accumulation Unit may go up or down from Business Day to Business Day. Adjustments to the Contract Value, such as withdrawals, transfers, and charges, result in the redemption of Accumulation Units. However, these adjustments do not affect the value of the Accumulation Units. When You make an allocation to the Investment Divisions, the Company credits Your Contract with Accumulation Units. The number of Accumulation Units credited is determined by dividing the amount allocated to any Investment Division by the Accumulation Unit Value for that Investment Division at the close of the Business Day when the allocation is made.
ACCUMULATION UNITS. The Account Value in a Separate Account before the Annuity Commencement Date is represented by accumulation units. The dollar value of accumulation units for each Subaccount will change from day to day reflecting the investment experience of the Subaccount. Purchase Payments allocated to and any amounts transferred to the Subaccounts will be applied to provide accumulation units in those Subaccounts. The number of accumulation units purchased in a Subaccount will be determined by dividing the amount allocated to or transferred to that Subaccount, by the value of an accumulation unit for that Subaccount on the purchase payment or transfer date. The number of accumulation units withdrawn or transferred from the Subaccounts will be determined by dividing the amount withdrawn or transferred by the value of an accumulation unit for that Subaccount on the withdrawal or transfer date. The value of an accumulation unit on any business day is determined by multiplying the value of that unit at the end of the immediately preceding valuation period by the net investment factor for the valuation period. The net investment factor used to calculate the value of an accumulation unit in each Subaccount for the valuation period is determined by dividing (a) by (b) and subtracting (c) from the result, where:
ACCUMULATION UNITS. The number of Accumulation Units a Participant has in a Sub-Account as of the end of any Valuation Period is the number of Accumulation Units the Participant had in that Sub-Account as of the end of the preceding Valuation Period; plus
(a) The number of Accumulation Units attributable to amounts deposited to or transferred to that Sub-Account during the current Valuation Period; minus
(b) The number of Accumulation Units attributable to amounts transferred from, converted to an annuity, removed as a charge, paid as a death benefit, or withdrawn from that Sub-Account during the current Valuation Period.
ACCUMULATION UNITS. Each Contribution allocated to one or more of the Funds is credited to an Individual Account as accumulation units. The number of accumulation units is calculated by dividing the amount of the Contribution allocated to the Fund by the accumulation unit value (see 3.05) as of the next Valuation Date following our receipt of the Contribution in Good Order at our Home Office.
ACCUMULATION UNITS. The interest of this contract in the Separate Account, prior to the date on which amounts become payable under a payment plan, is represented by Accumulation Units. The dollar value of Accumulation Units for each Division will increase or decrease to reflect the investment experience of the Division. The value of an Accumulation Unit on any Valuation Date is the product of: . the value on the immediately preceding Valuation Date; and . the Net Investment Factor for the period from the immediately preceding Valuation Date up to and including the current Valuation Date (the current period). There may be Class A and Class B Accumulation Units. The Mortality and Expense Risk Charge for each class is shown on page 4. Net Purchase Payments applied to the Separate Account and transfers from the Class B Guaranteed Interest Fund purchase Class B Accumulation Units until conversion takes place as described in Section 7.3.
ACCUMULATION UNITS. During the Accumulation Period, Accumulation Units shall be used to account for all amounts allocated to or withdrawn from the Sub-Accounts of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. The Company will determine the number of Accumulation Units of a Sub-Account purchased or cancelled once it receives the necessary information to completely process the transaction. This will be done by dividing the amount allocated to (or the amount withdrawn from) the Sub-Account by the dollar value of one Accumulation Unit of the Sub-Account as of the end of the Valuation Period during which the request for the transaction is received at the Annuity Service Center.
ACCUMULATION UNITS. Each CREF account maintains a separate accumulation unit value. The current value of each account's accumulation unit is based on the market value of that account's investments, and will be determined in accordance with the Rules of the Fund. The number of accumulation units in any account under the contract will be increased and decreased in accordance with the Rules of the Fund. The number will be increased if:
A) premiums are allocated to that account under the contract; or
B) internal transfers to that account under the contract are made from another CREF account or from the companion TIAA contract, if any; and the number will be decreased if:
C) any premium taxes are deducted from that account; or
D) any employer plan fee withdrawals are deducted from that account; or
E) any amounts forfeited as described in section 12; or
F) any accumulation units from that account are deducted to provide any available form of benefit payments as described in Part C; or
G) internal transfers are made out of that account; or
H) any minimum distribution payments are paid from that account. Any amounts added to or deducted from an account will be attributed to individual employee’s accumulations, as applicable, in accordance with the terms of the employer plan.
ACCUMULATION UNITS. This Contract will be credited with the number of Accumulation Units of each subaccount of the Separate Account bought by the amount of the Purchase Payment allocated to each subaccount of the Separate Account. This Contract will also be credited with the number of Accumulation Units of each subaccount of the Separate Account bought by the amount of any Additional Purchase Payment allocated to each subaccount of the Separate Account.
