Income Subaccount definition

Income Subaccount means the Income Subaccount established pursuant to Section 4 of this Proceeds Agreement for each Locality.

Income Subaccount. Amounts credited to this subaccount are invested in the Income Portfolio. This portfolio invests primarily in fixed income securities. MONEY MARKET SUBACCOUNT -- Amounts credited to this subaccount are invested in the Money Market Portfolio. This portfolio invests primarily in money market instruments. The LBVIP Series Fund, Inc. receives investment advice for each portfolio from Lutheran Brotherhood Research Corp. As investment advisor, Lutheran Brotherhood Research Corp. charges the LBVIP Series Fund, Inc. a daily investment advisory fee equal to an annual rate of 0.4% of the aggregate average daily net assets of the LBVIP Series Fund, Inc. For a complete description of the Variable Account and the designated portfolios, please refer to the current prospectus for the LBVIP Series Fund, Inc. Contract Number: V1234567 ============================================================================ 1. DEFINITIONS ============================================================================ APPLICATION. The application(s) and all amendments and supplements. ATTAINED AGE. Attained Age on any day is the age last birthday of the Insured on the Contract Anniversary on or immediately prior to that day.

Income Subaccount. Amounts credited to this subaccount are invested in the Income Portfolio. This portfolio invests primarily in fixed income securities. MONEY MARKET SUBACCOUNT -- Amounts credited to this subaccount are invested in the Money Market Portfolio. This portfolio invests primarily in money market instruments. The LB Series Fund, Inc. receives investment advice for each portfolio from Lutheran Brotherhood. As investment advisor, Lutheran Brotherhood charges the LB Series Fund, Inc. a daily investment advisory fee equal to an annual rate of 0.4% of the aggregate average daily net assets of LB Series Fund, Inc. For a complete description of the Variable Account and the designated portfolios, please refer to the current prospectus for LB Series Fund, Inc. FIXED ACCOUNT INFORMATION Invests in the General Account of Lutheran Brotherhood. ---------------------------------------------------------------------------- 1. DEFINITIONS ---------------------------------------------------------------------------- ANNUITANT. The person(s) named as Annuitant on page 3.

Examples of Income Subaccount in a sentence

• Remove the short from the 3478A and apply an accurate + 3V to the HI and LO INPUT Terminals.

• The Investment Manager shall credit to the Locality's Income Subaccount all income and profits from the investment and reinvestment of moneys to the credit thereof.

• To the extent that the amount on deposit in the Income Subaccount exceeds the sum of the Locality Rebate Requirement and Yield Reduction Payment for the Locality, such excess shall be transferred to the Principal Subaccount of the Locality.

• The Investment Account (IA) of the IMF is divided in different subaccounts (the Fixed- Income Subaccount and the Endowment Subaccount).

• The IA comprises two principal subaccounts: the Fixed- Income Subaccount and the Endowment Subaccount.

• Such Locality may then withdraw from its Income Subaccount an amount not in excess of the amount then to the credit of its Income Subaccount if the Locality qualifies for any one of the Rebate Exceptions or if such withdrawal is necessary to qualify for one of the Spending Exceptions.

• Upon receipt by a Locality of the Rebate Report from VPSA, if the amount on deposit in the Locality's Income Subaccount (including the Income Subaccount Set Aside) is less than the sum of the Locality Rebate Requirement and Yield Reduction Payment of such Locality, the Investment Manager shall promptly charge the Principal Subaccount of such Locality an amount equal to the deficiency and credit its Income Subaccount such amount.

• The Investment Manager shall invest and reinvest moneys to the credit of the Income Subaccount of each Locality for the benefit of such Locality in accordance with the provisions of the Information Statement, this Agreement and the Related Tax Agreements.

• Under the revised rules and regulations of the Investment Account, eligible investments for the shorter-duration Tranche 1 of the Fixed- Income Subaccount include fixed-income securities issued by national governments of members, their central banks and official agencies, international financial institutions, and obligations of the Bank for International Settlements (BIS).

• If the Servicer distinguishes the commingled Trust Property from the Servicer’s own property subsequently, the Servicer is entitled to the corresponding amount from the aforementioned Trust Property, until the amount is equal to the total amount transferred from the Commingle Reserve Account to the Income Sub-account and/or the Principal Sub-account.

More Definitions of Income Subaccount

Income Subaccount. Amounts credited to this subaccount are invested in the Income Portfolio. This portfolio invests primarily in fixed income securities. MONEY MARKET SUBACCOUNT -- Amounts credited to this subaccount are invested in the Money Market Portfolio. This portfolio invests primarily in money market instruments. The LB Series Fund, Inc. receives investment advice for each portfolio from Lutheran Brotherhood. As investment advisor, Lutheran Brotherhood charges the LB Series Fund, Inc. a daily investment advisory fee equal to an annual rate of 0.4% of the aggregate average daily net assets of LB Series Fund, Inc. For a complete description of the Variable Account and the designated portfolios, please refer to the current prospectus for LB Series Fund, Inc. FIXED ACCOUNT INFORMATION Invests in the General Account of LBVIP. V2-VY-FPVA-4 page 4