Annuity Income Unit definition

Annuity Income Unit. An accounting unit of measure used to calculate variable Income Payments.
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Examples of Annuity Income Unit in a sentence

  • The Net Investment Factor can be greater or less than one and therefore the value of an Annuity Income Unit may increase or decrease.

  • Valuation Period The period of time from the time Annuity Income Unit values are calculated to the next time such values are calculated.

  • We will send You a statement showing the number of Annuity Income Units in your selected Investment Option, and the value of each Annuity Income Unit, at least once each calendar quarter.

  • Annuity Income Unit A unit of measure used to calculate the amount of annuity income for an Investment Option.

  • The Annuity Income Unit Value for each Division will vary from one Valuation Date to the next based on the investment experience of the assets in the Division and the deduction of certain Separate Account charges and expenses.

  • In determining the Annuity Income Unit Values, the Company applies a Mortality and Expense Charge (Article 9, section 9.01) and an Administrative Expense Charge (Article 9, section 9.02) against the daily value of the assets of each Division.

  • In determining Annuity Income Unit values, we make a daily charge equivalent to an effective annual rate that is equal to the sum of the Annual Mortality and Expense Risk Charge and the Annual Administrative Charge shown on the Contract Schedule page.

  • The product of the Assumed Investment Return Factor, adjusted for the number of days in the Valuation Period, and the net investment factor may be greater or less than one and cause the value of an Annuity Income Unit to increase or decrease.

  • In determining Annuity Income Unit values, we make a daily charge equivalent to the effective annual rate that is equal to the sum of the Annual Mortality and Expense Risk Charge and the Annual Administrative Charge shown on the Contract Schedule page.

  • REPORTS If part or all of your Purchase Payment is allocated to variable annuity income, the Company will send you a statement showing the number of Annuity Income Units in each variable Investment Option, and the value of each Annuity Income Unit, at least once each year, and each time you transfer Annuity Income Units among the Investment Options.

Related to Annuity Income Unit

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

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • 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.

  • 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;

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

  • 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)).

  • 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.

  • 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.

  • 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.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • 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.

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

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

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Actuarial equivalent means a benefit of equal value when

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.