Guaranteed Lifetime Withdrawal benefit (Income Class only Sample Clauses

Guaranteed Lifetime Withdrawal benefit (Income Class only overview You are entitled to the Guaranteed Lifetime Withdrawal Benefit described in the following provisions of this Section 13 in respect of all the Income Class Units allocated to the Contract. The Guaranteed Lifetime Withdrawal Benefit provides for a guaranteed LWA Income Stream based on the life of the Annuitant or, where the Two-Life Income Stream applies, the lives of both the Annuitant and the Second Life. This guaranteed LWA Income Stream first becomes available in the year in which the Annuitant (or, if the Two-Life Income Stream applies, the younger of the Annuitant and the Second Life) turns 65 years of age, or if you make the Age 55 LWA Election, 55 years of age. Any withdrawal from Income Class Units (other than to pay Contract- Level Fees or as payment of the LWA, an LWA Deferral or the LWA RRIF MAP) and any reclassification of Income Units to Units of a different Class that constitutes an Early Withdrawal or Excess Withdrawal will reduce the Guaranteed Lifetime Withdrawal Benefit. Individual Variable Annuity Contract
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Related to Guaranteed Lifetime Withdrawal benefit (Income Class only

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  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • When Must Distributions from a Xxxxxxxxx Education Savings Account Begin? Distribution of a Xxxxxxxxx Education Savings Account must be made (or otherwise will be deemed made) no later than 30 days from the earlier of the beneficiary’s death or attainment of age 30. A distribution from a Xxxxxxxxx Education Savings Account may be rolled over to another beneficiary’s Xxxxxxxxx Education Savings Account according to the requirements of Section (4). Note that the Economic Growth and Tax Relief Reconciliation Act of 2001 waives the distribution age limitation if the beneficiary of the Xxxxxxxxx Education Savings Account is a “Special Needs” student.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

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