Annuity Factor definition

Annuity Factor. As defined in Section 4.01(a).
Sample 1Sample 2Sample 3
Annuity Factor means the cost per dollar per month of pension, using interest rates and mortality tables considered appropriate by the Actuary, and the age of the Member, as subject to the Pension Benefits Act.
Sample 1Sample 2Sample 3
Annuity Factor means the factor used to calculate instalment payments of equal amount based on the CPR and the Tenure (in months). The annuity factor for the Facility will be (b) The Customer(s) must pay the Bank the Bank's Sale Price by way of monthly instalments in the following manner, based on current BR of 4.00% p.a. The Bank will notify the Customer(s) if there is any change in the monthly instalment amount due to a change in the BR; The amount of the monthly instalment ("Monthly Instalment") will be as follows: Month (c) Notwithstanding the above, the Profit Portion of the Bank's Sale Price will be calculated based on the EPR. The Bank will waive payment of the difference between the Profit Portion calculated based on CPR, and the EPR, by way of rebate ("Ibra'") in accordance with Clause 2(a) of Appendix 1. The Customer(s)' total payment amount is RMxxx from the first Monthly Instalment until the end of the Tenure and the total amount of Profit Portion that will be charged on the Facility is RMxxx. These amounts are accurate only if the profit rate and/or Tenure remain unchanged. Note:
Sample 1

Examples of Annuity Factor in a sentence

  • Both the Current-Basis Annuity Factor and the Guaranteed-Basis Annuity Factor are calculated using the attained age of the Policyholder on the exercise date.

  • For the purpose of calculating the Current-Basis Annuity Factor, the 7-year Treasury rate on any date is obtained by using the Bloomberg's FMC function or a similar function acceptable to both The Equitable and the Reinsurer at 5:00pm Eastern time on that date.

  • The Guaranteed-Basis Annuity Factor is the 10-year certain-and-life annuity immediate factor payable annually calculated using an interest rate of [ # ]% and [ # ] a mortality table using Scale G improvement factors.

  • Schedule of Units: We calculate an initial Schedule of Units based on the number of Units purchased for each Sub-account, the Benchmark Rate and the applicable Annuity Factor.

  • Then the resulting annual amount will be converted into Periodic Income Payments by dividing the annual amount by 1000 and multiplying by a one year Annuity Factor.

  • For the Rider Payment Option chosen, the Annuity Factor from Schedule I and the Minimum Annuitization Value will be used to determine the applicable annuity payments.

  • The first variable payment is determined by multiplying each $1,000 of Minimum Annuitization Value by the Annuity Factor on Schedule I.

  • The third sentence in the definition of Annuity Factor in Appendix A is not applicable unless the Participant transferred employment to BGE Home Products & Services, Inc.

  • For Annuitants age 85 or older at the time of annuitization, the age 85 Annuity Factor will be used for Schedule I.

  • The reduction in the resulting annual amount determined for the Fixed Account (prior to multiplying by the Interest Adjustment Factor and dividing by the Daily Factor) will be determined by: (a) divided by (b) where: (a) is the amount of the excess of the GIB attributable to the Fixed Account over the Periodic Income Payment determined under VAPOR attributable to the Fixed Account; and (b) is the applicable Annuity Factor.


More Definitions of Annuity Factor

Annuity Factor means the factor provided by an insurance company that would be applied to determine the single sum amount needed to purchase a commercial annuity that will provide an amount equal to the Monthly Benefit Amount.
Sample 1

Related to Annuity Factor

  • Capacity factor means the ratio of the average load on a machine or equipment for the period of time considered to the capacity rating of the machine or equipment.

  • Interest Factor means monthly compounding, discounting or annuitizing, as applicable, at a rate set forth in Exhibit A.

  • Annuity Unit An accounting unit of measure used to calculate the amount of Annuity Payments.

  • Fit factor means a quantitative estimate of the fit of a particular respirator to a specific individual, and typically estimates the ratio of the concentration of a substance in ambient air to its concentration inside the respirator when worn.

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Class Factor As to any date of determination and any Class of Certificates (other than the Interest Only Classes and the Residual Certificates), a fraction the numerator of which is (i) the aggregate of the denominations of all Certificates of such Class plus, in the case of each Accrual Class, all interest that has accrued on the Certificates of such Class prior to such date of determination and been added to the Class Balance thereof, less (ii) the aggregate amount of all Principal Distribution Amounts, if any, allocable thereto prior to such date of determination and the denominator of which is the original Class Balance of such Class. As to any date of determination and any Interest Only Class, a fraction, the numerator of which is the percentage of the balance specified for such purpose under “Reference Sheet–Notional Classes” in the Prospectus Supplement (or, if applicable, the sum of the applicable percentages of the balances so specified) and the denominator of which is the original Class Balance thereof. Code: The Internal Revenue Code of 1986, as amended, including any successor or amendatory provisions.

  • Quality factor (Q) means the modifying factor, listed in Tables I and II of 38.4(4), that is used to derive dose equivalent from absorbed dose.

  • Actuarial equivalent means a benefit of equal value when

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Class Coupon Formula The formula specified for each Class of variable rate Notes, as set forth in Appendix I for Original Notes and Appendix II for MAC Notes.

  • Load Factor means the percentage of aircraft seats actually occupied on a flight (RPMs divided by ASMs). “NMB” means the National Mediation Board.

  • Accumulation Period Factor means, for any Collection Period, a fraction with:

  • Loss Factor means the scaling factor determined in accordance with clause 7 and applied by the reconciliation manager to volumes of electricity measured or estimated in respect of ICPs on the Network, in order to reflect the impact of the ICP on Losses within the Network;

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Weighting factor wT for an organ or tissue (T) means the proportion of the risk of stochastic effects resulting from irradiation of that organ or tissue to the total risk of stochastic effects when the whole body is irradiated uniformly. For calculating the effective dose equivalent, the values of wT are:

  • Inflation Factor means a number determined for each tax year by dividing the consumer price index for June of the tax year by the consumer price index for June 2005.

  • Moody’s Discount Factor means, for purposes of determining the Discounted Value of any Moody’s Eligible Asset, the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the Moody’s Exposure Period, in accordance with the table set forth below: Exposure Period Aaa* Aa* A* Baa* Other** (V)MIG-1*** SP-1+**** Unrated***** 7 weeks 151% 159% 166% 173% 187% 136% 148% 225% 8 weeks or less but greater than seven weeks. 154 161 168 176 190 137 149 231 9 weeks or less but greater than eight weeks 158 163 170 177 192 138 150 240 * Mxxxx’x rating. ** Municipal Obligations not rated by Moody’s but rated BBB by S&P. *** Municipal Obligations rated MIG-1 or VMIG-1, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. **** Municipal Obligations not rated by Moody’s but rated SP-1+ by S&P, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. ***** Municipal Obligations rated less than Baa3 or not rated by Moody’s and less than BBB or not rated by S&P, not to exceed 10% of Moody’s Eligible Assets. Notwithstanding the foregoing, (i) except as provided in clause (ii) below, the Moody’s Discount Factor for short-term Municipal Obligations will be 115%, so long as such Municipal Obligations are rated at least MIG-1, VMIG-l or P-1 by Moody’s and mature or have a demand feature at par exercisable in 30 days or less, or 125%, as long as such Municipal Obligations are rated at least A-1+/AA or SP-1+/AA by S&P and mature or have a demand feature at par exercisable in 30 days or less, (ii) the Moody’s Discount Factor for residual interest municipal bonds and structured notes shall be the product of (x) the percentage determined by reference to the rating on the security underlying such residual interest municipal bond multiplied by (y) 1.25 (provided that the trust in which such residual interest municipal bond is held may be terminated within five business days), and (iii) except as provided in clause (ii) above, no Moody’s Discount Factor will be applied to cash, Receivables for Municipal Obligations Sold, or futures, options and similar instruments (to the extent such securities are Moody’s Eligible Assets); provided, however, that for purposes of determining the Moody’s Discount Factor applicable to a Municipal Obligation, any Municipal Obligation (excluding any short-term Municipal Obligation) not rated by Moody’s but rated by S&P shall be deemed to have a Mxxxx’x rating which is one full rating category lower than its S&P rating.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Service benefit means the credit toward retirement benefits as determined by the