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Common use of Specified Payment Clause in Contracts

Specified Payment. Payments of a designated dollar amount. The annual amount may not be greater than the percentage shown on Contract Schedule I times the Current Value at time of election. This annual dollar amount will remain constant. At its discretion, Aetna may require a minimum initial payment amount;

Appears in 8 contracts

Samples: Individual Annuity Contract (VOYA RETIREMENT INSURANCE & ANNUITY Co), Individual Annuity Contract (VOYA RETIREMENT INSURANCE & ANNUITY Co), Group Annuity Certificate (VOYA RETIREMENT INSURANCE & ANNUITY Co)

Specified Payment. Payments of a designated dollar amount. The annual amount may not be greater than the percentage shown on Contract Schedule I times of the Current Value at time of election. election as shown on Contract Schedule I. This annual dollar amount will remain constant. At its discretion, Aetna may require a minimum initial payment amount;

Appears in 6 contracts

Samples: Group Contract (Variable Annuity Account B of Aetna Life Ins & Annuity Co), Group Annuity Contract (Variable Annuity Account B of Aetna Life Ins & Annuity Co), Insurance Contract (Variable Annuity Account I of Aetna Insurance Co of America)

Specified Payment. Payments of a designated dollar amount. The annual amount may not be greater than the percentage shown on Contract Schedule I times of the Current Value at time of election. election as shown on Contract Schedule I. This annual dollar amount will remain constant. At its discretion, Aetna may require a minimum initial payment amount;; or

Appears in 2 contracts

Samples: Individual Retirement Annuity Rollover Account (Variable Annuity Account B of Aetna Life Ins & Annuity Co), Individual Retirement Annuity Rollover Account (Variable Annuity Account B of Aetna Life Ins & Annuity Co)

Specified Payment. Payments of a designated annual dollar amount. The annual amount may not be greater than the percentage shown on Contract Schedule I times of the Current Value at time of election. election as shown on Contract Schedule I. This annual dollar amount will remain constantconstant unless a higher amount is required under Code minimum distribution rules. At its discretionEach year that the Specified Payment is in effect, Aetna may require a will calculate the minimum initial payment amount;required distribution by dividing the Individual Account Current Value as of December 31

Appears in 1 contract

Samples: Group Combination Annuity Contract (Variable Annuity Acct C of Aetna Life Insurance & Annuity Co)

Specified Payment. Payments of a designated dollar amount. The annual amount may not be greater than the percentage shown on Contract Schedule I times of the Current Value at time of election. election as shown on Contract Schedule I. This annual dollar amount will remain constant. At its discretion, Aetna may require a minimum initial payment amount;; (2) Specified Period: Payments which are made over a period of time which must be at least 10 years. The annual amount paid each year is calculated by dividing the Current Value as of December 31 of the prior year by the number of payment years remaining; or (3)

Appears in 1 contract

Samples: Insurance Contract (VOYA RETIREMENT INSURANCE & ANNUITY Co)

Specified Payment. Payments of a designated dollar amount. The annual amount may not be greater than the percentage of the Current Value on the date of the SWO election as shown on Contract Schedule I times the Current Value at time of election. I. This annual dollar amount will remain constant. At its discretion, Aetna may require a minimum initial payment amount;; or

Appears in 1 contract

Samples: Insurance Contract (Variable Annuity Account B of Aetna Life Ins & Annuity Co)

Specified Payment. Payments of a designated dollar amount. The annual amount may not be greater than the percentage shown on Contract Schedule I times the Current Value at time of election. This annual dollar amount will remain constant. At its discretion, Aetna may require a minimum initial payment amount;; Option (SWO): (Cont'd)

Appears in 1 contract

Samples: Group Annuity Contract (VOYA RETIREMENT INSURANCE & ANNUITY Co)

Specified Payment. Payments of a designated dollar amount. The annual amount may not be greater than the percentage shown on Contract Schedule I times of the Current Value at time of election. election as shown on Contract Schedule I. This annual dollar amount will shall remain constant. At its discretion, Aetna may require a minimum initial payment amount;

Appears in 1 contract

Samples: Variable Annuity Contract (Variable Annuity Account B of Aetna Life Ins & Annuity Co)

Specified Payment. Payments of a designated dollar amount. The annual amount may not be greater than the percentage shown on Contract Schedule I times of the Current Value at time of election. election as shown in Contract Schedule I. This annual dollar amount will remain constant, unless a higher amount is required under Code minimum distribution rules. At its discretion, Aetna may require a minimum initial payment amount;; or

Appears in 1 contract

Samples: Retirement Plan Contract (Variable Annuity Acct C of Aetna Life Insurance & Annuity Co)