Joint and Last Survivor Life Payments Sample Clauses

Joint and Last Survivor Life Payments. Annuity Payments are paid for as long as either of two Annuitants is living as shown in Table C below. The following tables show the minimum monthly payments for each $1,000 of Proceeds or Cash Surrender Value, as applicable, applied under the Annuity Plan, assuming fixed payments with a net investment return of 1.0%, using the Annuity 2000 Mortality Tables. We may pay a higher rate at our discretion. In Tables B and C, the amount of each payment will depend on the Annuitant's sex and age as determined by the nearest birthday at the time Annuity Payments commence. Annuity Payments made on a basis other than monthly and for ages or number of years not shown will be calculated on the same basis as those shown and may be obtained from us by contacting our Customer Service Center at the address or phone number set forth on the first page of this Contract. Table A: Monthly Payments for a Period Certain IU-IA-3090 15 Age of Life Only Period Certain Period Certain 55 3.37 3.08 3.34 3.07 3.20 2.99 60 3.89 3.52 3.82 3.49 3.55 3.34 65 4.58 4.11 4.44 4.04 3.91 3.72 70 5.54 4.93 5.20 4.75 4.22 4.10 75 6.87 6.12 6.09 5.67 4.43 4.38 80 8.72 7.88 7.00 6.71 4.54 4.53 85 11.30 10.50 7.79 7.65 4.58 4.58 60 2.71 2.90 3.08 3.22 3.33 3.41 3.46 3.48 65 2.81 3.05 3.30 3.53 3.73 3.87 3.97 4.03 70 2.87 3.16 3.49 3.83 4.15 4.41 4.61 4.75 75 2.92 3.25 3.64 4.09 4.56 5.01 5.39 5.67 80 2.95 3.30 3.74 4.28 4.91 5.58 6.23 6.79 85 2.96 3.34 3.81 4.42 5.17 6.06 7.03 7.98 IU-IA-3090 16
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Joint and Last Survivor Life Payments. Annuity Payments are paid for as long as either of two Annuitants is living as shown in Table C below. IU-IA-3096 16 The following tables show the minimum monthly payments for each $1,000 applied under the Annuity Plan, assuming fixed payments with a net investment return of 1.0%, using the Annuity 2000 Mortality Tables. We may pay a higher rate at our discretion. In Tables B and C, the amount of each payment will depend on the Annuitant’s sex and age, as determined by the nearest birthday, at the Annuity Commencement Date. Annuity Payments made on a basis other than monthly and for ages or number of years not shown will be calculated on the same basis as those shown and may be obtained from us by contacting our Customer Service Center at the address or phone number set forth on the first page of this Contract. 50 55 60 65 70 75 80 85 $2.98/2.75 3.37/3.08 3.89/3.52 4.58/4.11 5.54/4.93 6.87/6.12 8.72/7.88 11.30/10.50 $2.97/2.74 3.34/3.07 3.82/3.49 4.44/4.04 5.20/4.75 6.09/5.67 7.00/6.71 7.79/7.65 $2.89/2.70 3.20/2.99 3.55/3.34 3.91/3.72 4.22/4.10 4.43/4.38 4.54/4.53 4.58/4.58 IU-IA-3096 17
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Joint and Last Survivor Life Payments. Annuity Payments are paid for as long as either of two Annuitants is living as shown in Table C below. (5) Payments for Life with Surrender Right and Death Benefit - If Annuity Payments have not commenced by the latest Annuity Commencement Date permitted under the Contract, you may elect, in lieu of any other Annuity Plan, Annuity Payments that will begin on or about January 25th following the Annuity Commencement Date and be paid for as long as the Annuitant is living. Annuity Payments under this Annuity Plan will equal, on an annual calendar year basis after the Annuity Commencement Date, the greater of: (a) The MAW; and (b) The Accumulation Value as of the end of the prior calendar year, determined as if the Contract had not been annuitized, divided by the life expectancy of the Annuitant, based on the Annuitant’s age, as determined under the Single Life Table under Treasury Regulation Section 1.401(a)(9)-9 as shown in Table D. Under this option, the Accumulation Value will remain allocated among the available Sub-accounts as you direct. The Owner may Surrender the Contract at any time but Withdrawals or a subsequent election of a different Annuity Plan will not be permitted.
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Joint and Last Survivor Life Payments. Annuity Payments are paid for as long as either of two Annuitants are living as shown in Table C below. If any Owner (or any Annuitant who is not an Owner) dies on or after the Annuity Commencement Date but before all guaranteed Annuity Payments have been paid, we are required to pay the remaining value of any such guaranteed payments at least as rapidly as it was being paid before death. Consequently, we will continue payments as mandated under the Annuity Plan that was in effect at the time of death until all guaranteed Annuity Payments due have been paid. Annuity Plan Tables The following tables show the minimum monthly payments for each $1,000 applied under the Annuity Plan, assuming fixed payments with a net investment return of 1.5%, using the Annuity 2000 Mortality Tables. We may pay a higher rate at our discretion. In Table B, the amount of each payment will depend on the Annuitant’s sex and Age at the time Annuity Payments commence. Payments other than monthly for Ages, number of years or joint life combinations not shown will be calculated on the same basis as those shown and may be obtained from us. 10 $8.97 17 $5.55 24 $4.13 11 8.22 18 5.28 25 3.99 12 7.59 19 5.04 26 3.87 13 7.05 20 4.82 27 3.75 14 6.60 21 4.62 28 3.64 15 6.20 22 4.44 29 3.54 16 5.86 23 4.28 30 3.45 Age Male/Female Male/Female Male/Female 50 $3.25/3.01 $3.23/3.00 $3.15/2.96 55 3.65/3.35 3.61/3.33 3.46/3.25 60 4.17/3.79 4.09/3.75 3.80/3.59 65 4.87/4.39 4.71/4.30 4.15/3.97 70 5.85/5.22 5.47/5.02 4.45/4.34 75 7.20/6.43 6.35/5.93 4.66/4.61 80 9.10/8.22 7.25/6.96 4.77/4.75 85 11.75/10.91 8.02/7.89 4.81/4.81 90 15.40/14.76 8.56/8.50 4.82/4.82 50 $2.72 $2.81 $2.88 $2.93 $2.96 55 2.85 2.99 3.10 3.19 3.25 60 2.97 3.16 3.33 3.48 3.59 65 3.06 3.31 3.55 3.79 3.99 70 3.13 3.42 3.75 4.09 4.41
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Joint and Last Survivor Life Payments. Annuity Payments are paid for as long as either of two Annuitants is living as shown in Table C below.
Sample 1

Related to Joint and Last Survivor Life Payments

  • Qualified Joint and Survivor Annuity An immediate annuity for the life of the Participant with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse and which is the amount of benefit which can be purchased with the Participant's vested account balance. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Survivor Benefits 1. A surviving dependent of a retiree who was eligible to receive a Retiree Medical Grant, as stated above in A through C, and who qualifies for a monthly allowance shall be eligible for fifty (50) percent of the Grant authorized for the retiree. 2. A surviving eligible retiree who qualifies for a monthly retirement allowance who was married to a retiree who was also eligible for a Grant shall receive the survivor benefit described in D.1., above, or his or her own Grant, whichever is greater. Such retiree shall not be eligible for both Grants.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Survivors Benefits Benefits for the surviving family members of individuals who have died from COVID–19, including cash assistance to widows, widowers, or dependents of individuals who died of COVID–19.

  • Contribution Formula Dental Coverage Faculty Member Coverage. For faculty member dental coverage, the Employer contributes an amount equal to the lesser of ninety percent (90%) of the faculty member premium of the State Dental Plan, or the actual faculty member premium of the dental plan chosen by the faculty member. However, for calendar years beginning January 1, 2006, and January 1, 2007, the minimum employee contribution shall be five dollars ($5.00) per month.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • How Are Distributions from a Xxxx XXX Taxed for Federal Income Tax Purposes Amounts distributed to you are generally excludable from your gross income if they (i) are paid after you attain age 59½, (ii) are made to your beneficiary after your death, (iii) are attributable to your becoming disabled, (iv) subject to various limits, the distribution is used to purchase a first home or, in limited cases, a second or subsequent home for you, your spouse, or you or your spouse’s grandchild or ancestor, or (v) are rolled over to another Xxxx XXX. Regardless of the foregoing, if you or your beneficiary receives a distribution within the five-taxable-year period starting with the beginning of the year to which your initial contribution to your Xxxx XXX applies, the earnings on your account are includable in taxable income. In addition, if you roll over (convert) funds to your Xxxx XXX from another individual retirement plan (such as a Traditional IRA or another Xxxx XXX into which amounts were rolled from a Traditional IRA), the portion of a distribution attributable to rolled-over amounts which exceeds the amounts taxed in connection with the conversion to a Xxxx XXX is includable in income (and subject to penalty tax) if it is distributed prior to the end of the five-tax-year period beginning with the start of the tax year during which the rollover occurred. An amount taxed in connection with a rollover is subject to a 10% penalty tax if it is distributed before the end of the five-tax-year period. As noted above, the five-year holding period requirement is measured from the beginning of the five-taxable-year period beginning with the first taxable year for which you (or your spouse) made a contribution to a Xxxx XXX on your behalf. Previously, the law required that a separate five-year holding period apply to regular Xxxx XXX contributions and to amounts contributed to a Xxxx XXX as a result of the rollover or conversion of a Traditional IRA. Even though the holding period requirement has been simplified, it may still be advisable to keep regular Xxxx XXX contributions and rollover/ conversion Xxxx XXX contributions in separate accounts. This is because amounts withdrawn from a rollover/conversion Xxxx XXX within five years of the rollover/conversion may be subject to a 10% penalty tax. As noted above, a distribution from a Xxxx XXX that complies with all of the distribution and holding period requirements is excludable from your gross income. If you receive a distribution from a Xxxx XXX that does not comply with these rules, the part of the distribution that constitutes a return of your contributions will not be included in your taxable income, and the portion that represents earnings will be includable in your income. For this purpose, certain ordering rules apply. Amounts distributed to you are treated as coming first from your non-deductible contributions. The next portion of a distribution is treated as coming from amounts which have been rolled over (converted) from any non-Xxxx IRAs in the order such amounts were rolled over. Any remaining amounts (including all earnings) are distributed last. Any portion of your distribution which does not meet the criteria for exclusion from gross income may also be subject to a 10% penalty tax. Note that to the extent a distribution would be taxable to you, neither you nor anyone else can qualify for capital gains treatment for amounts distributed from your account. Similarly, you are not entitled to the special five- or ten- year averaging rule for lump-sum distributions that may be available to persons receiving distributions from certain other types of retirement plans. Rather, the taxable portion of any distribution is taxed to you as ordinary income. Your Xxxx XXX is not subject to taxes on excess distributions or on excess amounts remaining in your account as of your date of death. You must indicate on your distribution request whether federal income taxes should be withheld on a distribution from a Xxxx XXX. If you do not make a withholding election, we will not withhold federal or state income tax. Note that, for federal tax purposes (for example, for purposes of applying the ordering rules described above), Xxxx IRAs are considered separately from Traditional IRAs.