DEFERRED ANNUITY Sample Clauses

DEFERRED ANNUITY. The Board agrees that during the term of this Contract, and in addition to any other compensation provided for in this Contract, the Board shall pay for a $3,000 annuity each year on behalf of the Assistant Superintendent. In addition, the Board agrees to pay the TRS “member contribution” applicable to such additional annuity directly to TRS on behalf of the Assistant Superintendent. Such contributions are subject to all requirements and limits contained in the Internal Revenue Code. The Assistant Superintendent does not have a right to receive these contributions in cash.
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DEFERRED ANNUITY. The College may offer a 403B and a 457B Deferred Annuity Plan to the Faculty. The College shall have the right to select the provider(s) of the Plan(s) and Plan design. The College will not contribute financially to any deferred annuity.
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DEFERRED ANNUITY. An annuity contract under which the start of annuity payments is deferred to a future date.
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DEFERRED ANNUITY. The Board, in accordance with applicable state and federal laws, and in accordance with the request of the Superintendent, shall withhold such amount of salary as annuity program as selected by the Superintendent.
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DEFERRED ANNUITY. Under a Deferred Annuity, you typically begin to receive payments at some future date, usually upon retirement. Deferred annuities usually allow you to make periodic withdrawals, and to invest a lump sum all at once or make periodic payments, which can be either fixed or variable. You do not make any tax payments until you make a withdrawal. Annuity Investment Types There are two annuity investment types: Fixed and Variable. Fixed Annuities: Fixed Annuities offer a guaranteed rate of return, typically over a period of one to 15 years. They are usually invested in government securities and corporate bonds. There are two basic types of Fixed Annuity:  Guaranteed Return Annuity (GRA) is a fixed annuity that offers a guarantee that you can never receive less than 100% of your investment — no penalties or fluctuations in the interest rate market can impact your principal should you surrender.  Market Value Adjustment Annuity (MVA) works much as the GRA, but there is no guarantee of your principal if rates rise and you surrender your contract. Each company we represent has different types on annuities, please contact us for explanation. Variable Annuities: Variable Annuities enable you to invest in a selection of portfolios, called sub-accounts. These sub-accounts are tied to market performance. There are two special types of Variable Annuity:  Living Benefit Annuity is also known as a GRIB (Guaranteed Retirement Income Benefit). The most competitive GRIB guarantees at least a 5% return over seven years or the highest attained value on each anniversary during the surrender period, whichever is greater. In exchange for this living guarantee, the living benefit annuity has a surrender charge, or penalty for early withdrawal, no up- front bonus, and a slightly higher annual fee.  Guaranteed Lifetime Withdrawal Benefit Annuities are also very popular. The concept behind a Lifetime Withdrawal Benefit is simple. If you purchase a Lifetime Withdrawal Benefit Rider with your Variable Annuity, the insurance company guarantees a regular monthly, quarterly, or annual payment for your lifetime, even if your account balance goes to zero.
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Related to DEFERRED ANNUITY

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Fixed Annuity Payments The minimum guaranteed income purchased per $1,000 of the net amount applied to a fixed annuity is based on an annual interest rate of 3% and the 1983a Mortality Table with the ages set back ten (10) years. Conversion to Current Rates – Annuity payments will be based on the greater of: • our current income factors in effect for this Contract on the Annuity Date; or • our guaranteed income factors. The dollar amount of any payments after the first annuity payment is specified during the annuity payment period according to the provisions of the elected Annuity Option.

  • ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

  • ANNUITY 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • Deferral Notwithstanding the foregoing, if the Company shall furnish to Holders requesting registration pursuant to this Section 2.3, a certificate signed by the President or Chief Executive Officer of the Company stating that in the good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for such registration statement to be filed at such time, then the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve (12) month period; provided further, that the Company shall not register any other of its shares during such twelve (12) month period. A demand right shall not be deemed to have been exercised until such deferred registration shall have been effected.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

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