Annuity Contract. An individual or group annuity contract issued by an insurance company providing periodic benefits, whether fixed, variable or both, the benefits or value of which a Participant or Beneficiary cannot transfer, sell, assign, discount, or pledge as collateral for a loan or as security for the performance of an obligation, or for any other purpose, to any person other than the issuer thereof. The terms of any annuity contract purchased and distributed by the Plan to a Participant or Spouse shall comply with the requirements of this Plan.
Appears in 12 contracts
Samples: Contribution Plan and Trust (Triad Guaranty Inc), Non Standardized (Atlas America Inc), Comstock Resources Inc
