Annuity Payment. A series of payments for life, a definite period or a combination of the two. The Annuity Payments may be variable or fixed in amount or a combination of both.
Annuity Payment. 8 1.09 Annuity Payout Options ...................................... 8 1.10
Annuity Payment. If the Annuity Commencement Date does not coincide with the end of a Guarantee Period, We will apply Your Contract Value, less any applicable Premium Taxes, multiplied by the Market Value Adjustment, if any, to purchase the modal income payments according to the Annuity Option elected. If the Annuity Commencement Date coincides with the end of any Guarantee Period, no Market Value Adjustment will be applied in the determination of the monthly income payments. No Surrender Charge will be applied upon annuitization at any time. ELECTION OF ANNUITY OPTION. You may elect any one of the Annuity Options described below or any other Annuity Option We offer at the time of annuitization. In the absence of such election, the Life Annuity with 10 Years Period Certain will apply. The Annuity Option elected by You may not be changed on or after the Annuity Commencement Date. Election of any of these options must be made, In Writing, to Us prior to the Annuity Commencement Date. Some of the options may not be available if this Contract is issued to qualify under Section 401, 403, or 408 of the Internal Revenue Code of 1986 as amended. The third, fifth and sixth options (Life Annuity with Payments for a Period Certain, Joint and Last Survivor Life Annuity with Payments for a Period Certain, and Payment for a Period Certain) or any other option with a period certain segment will be available only if the guaranteed payment period is less than the life expectancy of the Annuitant at the time the option becomes effective. Such life expectancy will be computed under the mortality table then in use by Us. ELECTION OF ANNUITY PAYMENT FREQUENCY. You may elect the Annuity payment frequency. Available Annuity payment frequencies include: monthly, quarterly, semi-annual, and annual. In the event that You do not elect a payment frequency, Annuity payments will be made monthly. Annuity payments will be made according to the Annuity payment frequency selected. You may elect to change the Annuity payment frequency of Your payments within 30 days prior to the scheduled Annuity Commencement Date. DATE OF PAYMENT. The first Annuity Payment is payable on the Annuity Commencement Date. The remaining Annuity payments are computed and payable as of the same day of the month, or the preceding Business Day, if applicable, as the Annuity Commencement Date, based on the elected Annuity payment frequency. MINIMUM ANNUITY PAYMENT. The first Annuity Payment must be at least equal to the Minimum Annu...
Annuity Payment. 24.1.1 The Contracting Authority shall pay the Service Provider Annuity Payments in the manner set out in the Payment Mechanism. Subject to the provisions of this Agreement, the Contracting Authority shall procure that the Service Provider receives the Annuity Payment from the Roads Annuity Fund (the Fund) established by the Public Finance Management (Roads Annuity Fund) Regulations, 2015.
Annuity Payment. The minimum payment amounts and the age adjustments which will be used to determine the first monthly payment for a Variable Annuity Payment based on an assumed interest rate We offer, are shown on the Contract Specifications under the PAYMENT OPTION TABLES. The Payment Option Table show the dollar amount of the first monthly payment which can be purchased with each $1,000 of Contract Value, after deduction of any applicable premium taxes. The Owner must select one of the assumed interest rates We offer for the Variable Annuity Payment prior to the Annuity Commencement Date. The assumed interest rate may not be changed after the Annuity Commencement Date.
Annuity Payment. For the first variable annuity payment, each $1,000 of Accumulation Value is multiplied by the variable annuity rate in effect for the option elected. The variable annuity rate is based on the assumed investment return elected and the Mortality Table shown on the Contract Data page. The monthly variable annuity rates for Options V-1, V-2 with a 10 year guaranteed period and V-3 with no guaranteed period and a two-thirds survivor benefit are shown in the Variable Annuity Payout Option Tables. Annuity rates not shown are available upon request.
Annuity Payment. In consideration of the Superintendent’s resignation and Release, and in accordance with her initial employment contract as well as paragraph 5 of the Superintendent’s Employment Contract dated May 27, 2014, the Board shall pay to Superintendent the amount of money which was contributed, or was to have been contributed to fund a tax-sheltered annuity, as identified in her initial employment contract as well as paragraph 5 of the Superintendent’s Employment Contract dated May 27, 2014, and which accrued from June 1, 2013 through the date of the Board’s approval of this Agreement, and as is further defined as the “Annuity Payment” in Exhibit “B”.
Annuity Payment. An amount paid at regular intervals under one of several options available to the Annuitant and/or any other payee (but not including Payments from Account). This amount will be paid on a fixed basis only.
Annuity Payment. The annuity payment made to the Superintendent shall be increased from its current amount. The District shall pay the amount of $2,250.00 to a 457 annuity set up by the Superintendent. The Superintendent shall have the right to direct all retirement contributions made by him or on his behalf as he deems fit and subject only to limits imposed by law.
