Annuity Income definition

Annuity Income means the initial income payable under the Policy and is described in section 3.1;
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Annuity Income as of any valuation date means the total fixed and variable payments that would be payable as of that date. (For an explanation of annuity income, see Question 4.)
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Annuity Income means as of any payment date the total of the fixed and variable payments payable as of that date. (For an explanation of annuity income, see question 4.)
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Examples of Annuity Income in a sentence

  • Minimum Annuity Income Payment The minimum monthly annuity income payment that we will make is [$20].

  • Also, you can find more specific information on the tax treatment of payments from qualified employer plans in IRS Publication 575, Pension and Annuity Income, and IRS Publication 590, Individual Retirement Arrangements.

  • Annuity Income Payments — You may elect to receive fixed income payments, variable income payments, or a combination of both using the same Annuity Option and certain period.

  • After the Annuity Commencement Date – During the Annuity (Income) PhaseAfter the Annuity Commencement Date, you will receive payments under the annuity payment option you select, but generally you may not take any other withdrawals or surrender your Contract.

  • Additional informationis also contained in Internal Revenue Service Publication 575, Pension and Annuity Income online at http://www.irs.gov/file_source/pub/irs-pdf/p575.pdf.Repayment of refunds Refunds of retirement contributions may be repaid with interest from the date of the refund to the date of the repayment.

  • Minimum Annuity Income Payment The minimum initial monthly annuity income payment that we will make is $50.

  • Also, you can find more specific information on the tax treatment of payments from qualified retirement plans in IRS Publication 575, Pension and Annuity Income, IRS Publication 590, Individual Retirement Arrangements, IRS Notice 2007-7 and IRS Form 4972, Tax on Lump Sum Distributions.

  • Annuity Income Options and Illustrated Monthly Income Values This annuity is designed to pay an income that is guaranteed to last as long as the Annuitant lives.

  • If the last surviving Annuitant dies on or after the first Annuity Income Date and before the end of the Guarantee Period, we will provide the remaining annuity income to the Beneficiary or Beneficiaries according to the terms of this Contract.

  • After the Annuity Commencement Date – During the Annuity Income PhaseAfter the Annuity Commencement Date, you will receive payments under the annuity payment option you select, but generally you may not take any other withdrawals or surrender your Contract.


More Definitions of Annuity Income

Annuity Income means the regular income payable to the Contract Holder. For the avoidance of doubt, the income referred to is income before income tax is deducted.
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Annuity Income. BENEFITS If the Owner has not chosen an income plan, [Life Annuity with 10 Years Certain] will automatically apply. The Maximum Income Date is the first day of the first calendar month following the Annuitant's [95th] birthday. We reserve the right to require that the Income Date be at least [2 years] after the Certificate Date. The minimum amount that can be applied under any Variable or Fixed Income Annuity is [$5,000]. The minimum income payment is [$100]. We currently allow assumed investment rates of [3%] and [6%]. If the Owner does not specify one of these rates when the Owner chooses an income plan, the assumed investment rate will be [3%]. Values for other ages, and for other payment periods, joint life combinations, or assumed investment rates that we offer (Tables below assume 3%) are available on request. Monthly income payments are shown for each $1,000 applied. INCOME TABLE FOR A FIXED PERIOD Monthly Monthly Monthly Fixed Period Income Fixed Period Income Fixed Period Income of Years Payment of Years Payment of Years Payment --------- ------- --------- ------- -------- ------- 11 $8.88 21 $5.33 12 8.26 22 5.16 13 7.73 23 5.00 14 7.28 24 4.85 5 17.95 15 6.89 25 4.72 6 15.18 16 6.54 26 4.60 7 13.20 17 6.24 27 4.49 8 11.71 18 5.98 28 4.38 9 10.56 19 5.74 29 4.28 10 9.64 20 5.53 30 4.19 INCOME TABLE FOR LIFE Male/Female Male/Female Male/Female Age Life Only 10 Years Certain 20 Years Certain --- --------- ---------------- ---------------- 50 4.28 / 3.92 $4.24 / 3.90 $4.10 / 3.84 55 4.72 / 4.27 4.64 / 4.24 4.40 / 4.12 60 5.31 / 4.74 5.17 / 4.68 4.73 / 4.45 65 6.13 / 5.38 5.84 / 5.25 5.04 / 4.81 70 7.28 / 6.29 6.65 / 6.00 5.29 / 5.14 75 8.90 / 7.62 7.53 / 6.92 5.43 / 5.37 80 11.19 / 9.62 8.37 / 7.93 5.50 / 5.48 85 14.36 / 12.63 9.00 / 8.77 5.52 / 5.52 RIDERS Accidental Death Benefit Rider The Maximum Accidental Death Benefit is [$250,000]. DEFINITIONS ------------------------------------------------------------------------------- "ACCOUNT VALUE" is the entire amount we hold under a Certificate for the Owner before the Income Date. It is equal to the sum of the Variable Account Value and the Fixed Account Value.
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Related to Annuity Income

  • 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.

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Annuity issuer means an insurer that has issued a contract to fund periodic payments under a structured settlement.

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • Annuity reserve means the present value, computed upon the basis of the mortality and other tables adopted by the board, of all payments to be made on account of any annuity, or benefit in lieu of any annuity, granted to a retirant as provided in this chapter.

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

  • 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.

  • 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.

  • Group Annuity Contract means a master contract providing annuities to a group of persons under a single con- tract.

  • Family income means all income that is included in a determination of family income under section 143(f) of the internal revenue code, 26 USC 143(f), together with the income of all adults who will reside in the residence, which income might otherwise be excluded from consideration because the individual was not expected to both live in the residence and be primarily or secondarily liable on the mortgage note.

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

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Annuities means all agreements to make periodical payments for a period certain or where the making or continuance of all or some of a series of such payments, or the amount of any such payment, depends upon the continuance of human life, except payments made under the authority of paragraph one hereof. Amounts paid the insurer to provide annuities and proceeds applied under optional modes of settlement or under dividend options may be allocated by the insurer to one or more separate accounts pursuant to section four thousand two hundred forty of this chapter.

  • Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.

  • Unallocated annuity contract means any annuity contract or group annuity certificate which is not issued to and owned by an individual, except to the extent of any annuity benefits guaranteed to an individual by an insurer under such contract or certificate.

  • Social Security Benefit means an amount received by a claimant as a monthly benefit in accordance with the Social Security Act, 42 U.S.C. Sec. 401 et seq.

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarially equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or qualified joint and survivor annuity) to which the Member would be entitled under the terms of the plan assuming: