Annuity Net Sample Clauses
The "Annuity Net" clause defines how the net amount of an annuity payment is calculated after accounting for deductions such as taxes, fees, or other withholdings. In practice, this clause specifies which deductions are permissible and how they are applied to the gross annuity amount before payment is made to the recipient. For example, it may clarify that only certain statutory taxes are deducted, ensuring the recipient knows exactly what to expect. The core function of this clause is to provide transparency and predictability regarding the actual payment amount, thereby preventing disputes over unexpected deductions.
Annuity Net. Return Factor - The Annuity net return factor is used to compute all Separate Account Annuity payments for any Fund. The Annuity net return factor(s) for each Fund is equal to 1.0000000 plus the net return rate. The net return rate is equal to:
(a) The value of the shares of the Fund held by the Separate Account at the end of a Valuation Period; minus, (b) The value of the shares of the Fund held by the Separate Account at the start of the Valuation Period; plus or minus, (c) Taxes (or reserves for taxes) on the Separate Account (if any); divided by (d) The total value of the Fund(s) Accumulation Units and Fund(s) Annuity Units of the Separate Account at the start of the Valuation Period; minus, (e) A daily actuarial charge as shown of the Contract Schedule for Annuity mortality and expense risks and profit and a daily administrative charge which will not exceed the administrative charge as shown on the Contract Schedule. The net return rate may be more or less than zero (0) percent. The value of a share of the Fund is equal to the net assets of the Fund divided by the number of shares outstanding.
Annuity Net. Return The Annuity net return factor(s) are used to Factor(s) -- Separate compute all Separate Account Annuity Payments Account: for any Fund. The Annuity net return factor(s) for each Fund is equal to 1.0000000 plus the net return rate. The net return rate is equal to:
(a) The value of the shares of the Fund held by the Separate Account at the end of a Valuation Period; minus
Annuity Net. Return Factor(s)
Annuity Net. Return The Annuity Net Return Factor(s) are used to compute all Separate Account Annuity and payments for any Fund. The Annuity Net Return Factor(s) for each Fund is equal to 1.0000000 plus the Net Return Rate. The Net Return Rate is equal to:
(1) The value of the shares of the Fund held by the Separate Account at the end of a Valuation Period; minus
(2) The value of the shares of the Fund held by the Separate Account at the start of the Valuation Period; plus or minus
(3) Taxes (or reserves for taxes) on the Separate Account (if any); divided by (4) The total value of the Fund(s) Record Units and Fund(s) Annuity Units of the Separate Account at the start of the Valuation Period; minus
Annuity Net. Return The net return rate is equal to: Factor(s) -- Separate
(a) The value of the shares of the Fund held by Account (Cont'd): the Separate Account at the end of a Valuation Period; minus
(b) The value of the shares of the Fund held by the Separate Account at the start of the Valuation Period; plus or minus
(c) Taxes (or reserves for taxes) on the Separate Account (if any); divided by
(d) The total value of the Fund record units and Fund Annuity units of the Separate Account at the start of the Valuation Period; minus
(e) A daily charge for Annuity mortality and expense risks, which may include profit, and a daily administrative charge (at the annual rate as shown on Contract Schedule II). A net return rate may be more of less than 0%. The value of a share of the Fund is equal to the net assets of the Fund divided by the number of shares outstanding. Payments shall not be changed due to changes in the mortality or expense results or administrative charges.