Examples of Annuity Account Value in a sentence
If a portion of a Participant’s Annuity Account Value is forfeited under the terms of the Plan, we will not assess a Withdrawal Charge against unvested amounts.
The Accumulation Unit Value, however, will be reduced by the amount of the fees and charges that we deduct under each Participant’s Annuity Account Value.
If, however, a tax is later imposed upon us when a withdrawal is made from the Annuity Account Value or the Annuity Account Value is used to purchase an annuity, we reserve the right to deduct a charge at such time.
If the Employer does not pay this charge then the Administrative Charge is deducted as of the last Business Day of each calendar quarter from the Participant’s Annuity Account Value.
We will deduct the above charge on the Transaction Date for the portion of any Contract Year in which the Rider is terminated pursuant to Section V of the Rider, a Death Benefit is paid pursuant to Section 6.02 of this Contract, the Annuity Account Value is applied to purchase an Annuity Benefit pursuant to Section 7.05 of this Contract, or this Contract is surrendered pursuant to Section 5.02 of this Contract.