First Variable Annuity Payment definition

First Variable Annuity Payment. The dollar amount of the first variable annuity payment is the sum of the payments from each Sub-account determined by applying the contract value used to purchase variable annuity payments, as of the 15th day of the preceding month, to the Variable Annuity Purchase Rate Table of this Contract. If the NYSE is not open on that date, the calculation will be made on the next day that the NYSE is open. If premium taxes are required by state law, these taxes will be deducted before the annuity payment is calculated.
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First Variable Annuity Payment. The Annuitized Value will be applied to the Table for the Annuity Option chosen. The Tables show the amount of the first Annuity Payment for each $1,000 applied, based on the Annuitant's age and sex where appropriate at the Annuity Date. [The Tables are based on the 1983 Table 'a' for Individual Annuity Valuation with a projection scale G and an assumed investment return of 2.5% if the Annuity Date is prior to the 9th Certificate Anniversary and 3% for Annuity Dates on or after the 9th Certificate Anniversary.] Other assumed investment return rates may be made available in the future. NUMBER OF ANNUITY UNITS: The number of Annuity Units for a Division is:
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First Variable Annuity Payment. For each Portfolio, the dollar amount of the first variable annuity payment and the number of Annuity Units will be calculated by applying your contract value in that Portfolio, as of the 15th day of the preceding month, to the Variable Annuity Purchase Rate Table of this Contract. If the NYSE is not open on that date, the calculation will be made on the next day that the NYSE is open. If premium taxes are required by state law, these taxes will be deducted from the Portfolio before the annuity payment is calculated. The total of the first variable annuity payment will be sum of the amounts calculated for each Portfolio.
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Examples of First Variable Annuity Payment in a sentence

  • The Table of First Variable Annuity Payment Factors shows the amount of the variable portion of the first monthly annuity payment provided on the first page of this contract and under Option A(Variable) and Option B(Variable) for each $1,000 applied.

  • FIRST VARIABLE ANNUITY PAYMENT FACTORS The Table of First Variable Annuity Payment Factors shows the amount of the variable portion of the first monthly annuity payment provided on the first page of this certificate and under Option A(Variable) and Option B(Variable) for each $1,000 applied.

  • Refer to the Determination of the First Variable Annuity Payment and Variable Annuity Payments After the First Payment provisions for additional detail.

  • First Variable Annuity Payment: The dollar amount of the first variable annuity payment is the sum of the payments from each Sub-account determined by applying the contract value used to purchase variable annuity payments, as of the 15th day of the preceding month, to the Variable Annuity Purchase Rate Table of this Contract.

  • Determination of First Variable Annuity Payment At annuitization, the variable account contract value will be applied to the applicable Annuity Rates Table.

  • FIRST VARIABLE ANNUITY PAYMENT FACTORS The Table of First Variable Annuity Payment Factors in this Section 16 shows the amount of the variable portion of the first monthly Annuity payment under Option A (Variable) and Option B (Variable) for each $1,000 applied.

  • The Table of First Variable Annuity Payment Factors shows the amount of the variable portion of the first monthly annuity payment provided on the first page of the certificate and under Option A(Variable) and Option B(Variable) for each $1,000 applied.

  • The Table of First Variable Annuity Payment Factors on page 13 shows the amount of the variable portion of the first monthly Annuity payment provided on the first page of the contract and under Option A (Variable) and Option B (Variable) for each $1,000 applied.

  • Determination of the First Variable Annuity Payment At annuitization, the variable account contract value will be applied to the applicable Annuity Table.

  • Pages 20-21 Annuity Payment Change of Annuitization Start Date Annuity Payment Plans Plan Selection Allocation of Contract Values to Provide Fixed and Variable Payments Fixed Annuity Payments Variable Annuity Payments Determination of the First Variable Annuity Payment Variable Annuity Payments After the First Payment Exchange of Annuity Units TABLES OF ANNUITY PAYOUT RATES....................................

Related to First Variable Annuity Payment

  • 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.

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

  • 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:

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

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

  • 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.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

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

  • 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.

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

  • Supplemental Payment means any payments or transfers of things of value made to the District or to any person or persons in any form if such payment or transfer of thing of value being provided is in recognition of, anticipation of, or consideration for the Agreement and that is not authorized pursuant to Sections 313.027(f)(1) or (2) of the TEXAS TAX CODE, and specifically includes any payments required pursuant to Article VI of this Agreement.

  • Payment/Advance Form is that certain form attached hereto as Exhibit B.

  • Payment Due Date means the date by which the Date of Payment must occur, in accordance with the provisions of Sections 504.3 through 504.5 of this Exhibit, in order for NYSERDA not to be liable for interest pursuant to Section 504.6.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Installment Due Date means, for any monthly installment of interest-only or principal and interest, the date on which such monthly installment is due and payable pursuant to Section 3 of this Note.

  • 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.

  • 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.

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Debit Payment means a particular transaction where a debit is made.

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • 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.

  • Early Termination Payment is defined in Section 4.3(b) of this Agreement.