Joint and Last Survivor Life Payments Sample Clauses

Joint and Last Survivor Life Payments. Annuity Payments are paid for as long as either of two Annuitants is living as shown in Table C below. Annuity Plan Tables The following tables show the minimum monthly payments for each $1,000 of Proceeds or Cash Surrender Value, as applicable, applied under the Annuity Plan, assuming fixed payments with a net investment return of 1.0%, using the Annuity 2000 Mortality Tables. We may pay a higher rate at our discretion. In Tables B and C, the amount of each payment will depend on the Annuitant's sex and age as determined by the nearest birthday at the time Annuity Payments commence. Annuity Payments made on a basis other than monthly and for ages or number of years not shown will be calculated on the same basis as those shown and may be obtained from us by contacting our Customer Service Center at the address or phone number set forth on the first page of this Contract. Table A: Monthly Payments for a Period Certain Years Monthly Years Monthly Years Monthly Payable Payment Payable Payment Payable Payment 10 $8.75 17 $5.33 24 $3.90 11 7.99 18 5.05 25 3.76 12 7.36 19 4.81 26 3.64 13 6.83 20 4.59 27 3.52 14 6.37 21 4.40 28 3.41 15 5.98 22 4.22 29 3.31 16 5.63 23 4.05 30 3.21 IU-IA-3090 15 Table B: Monthly Life Payments (Single Annuitant) Life with 10 Year Life with 20 Year Age of Life Only Period Certain Period Certain Payee Male Female Male Female Male Female 50 $2.98 $2.75 $2.97 $2.74 $2.89 $2.70 55 3.37 3.08 3.34 3.07 3.20 2.99 60 3.89 3.52 3.82 3.49 3.55 3.34 65 4.58 4.11 4.44 4.04 3.91 3.72 70 5.54 4.93 5.20 4.75 4.22 4.10 75 6.87 6.12 6.09 5.67 4.43 4.38 80 8.72 7.88 7.00 6.71 4.54 4.53 85 11.30 10.50 7.79 7.65 4.58 4.58 Table C: Monthly Joint and Last Survivor Life Payments (Joint Annuitants) Male Age Female 50 55 60 65 70 75 80 85 Age 50 $2.47 $2.55 $2.47 $2.55 $2.62 $2.67 $2.70 $2.72 55 2.60 2.73 2.85 2.93 2.99 3.03 3.05 3.06 60 2.71 2.90 3.08 3.22 3.33 3.41 3.46 3.48 65 2.81 3.05 3.30 3.53 3.73 3.87 3.97 4.03 70 2.87 3.16 3.49 3.83 4.15 4.41 4.61 4.75 75 2.92 3.25 3.64 4.09 4.56 5.01 5.39 5.67 80 2.95 3.30 3.74 4.28 4.91 5.58 6.23 6.79 85 2.96 3.34 3.81 4.42 5.17 6.06 7.03 7.98 IU-IA-3090 16
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Joint and Last Survivor Life Payments. Annuity Payments are paid for as long as either of two Annuitants is living as shown in Table C below. (5) Payments for Life with Surrender Right and Death Benefit - If Annuity Payments have not commenced by the latest Annuity Commencement Date permitted under the Contract, you may elect, in lieu of any other Annuity Plan, Annuity Payments that will begin on or about January 25th following the Annuity Commencement Date and be paid for as long as the Annuitant is living. Annuity Payments under this Annuity Plan will equal, on an annual calendar year basis after the Annuity Commencement Date, the greater of: (a) The MAW; and (b) The Accumulation Value as of the end of the prior calendar year, determined as if the Contract had not been annuitized, divided by the life expectancy of the Annuitant, based on the Annuitant’s age, as determined under the Single Life Table under Treasury Regulation Section 1.401(a)(9)-9 as shown in Table D. Under this option, the Accumulation Value will remain allocated among the available Sub-accounts as you direct. The Owner may Surrender the Contract at any time but Withdrawals or a subsequent election of a different Annuity Plan will not be permitted. ICC12 IL-IA-4030
Sample 1Sample 2
Joint and Last Survivor Life Payments. Annuity Payments are paid for as long as either of two Annuitants is living as shown in Table C below.
Sample 1

Related to Joint and Last Survivor Life Payments

  • JOINT AND SURVIVOR ANNUITY The Advisory Committee must direct the Trustee to distribute a married or unmarried Participant's Nonforfeitable Accrued Benefit in the form of a qualified joint and survivor annuity, unless the Participant makes a valid waiver election (described in Section 6.05) within the 90 day period ending on the annuity starting date. If, as of the annuity starting date, the Participant is married, a qualified joint and survivor annuity is an immediate annuity which is purchasable with the Participant's Nonforfeitable Accrued Benefit and which provides a life annuity for the Participant and a survivor annuity payable for the remaining life of the Participant's surviving spouse equal to 50% of the amount of the annuity payable during the life of the Participant. If, as of the annuity starting date, the Participant is not married, a qualified joint and survivor annuity is an immediate life annuity for the Participant which is purchasable with the Participant's Nonforfeitable Accrued Benefit. On or before the annuity starting date, the Advisory Committee, without Participant or spousal consent, must direct the Trustee to pay the Participant's Nonforfeitable Accrued Benefit in a lump sum, in lieu of a qualified joint and survivor annuity, in accordance with Section 6.01, if the Participant's Nonforfeitable Accrued Benefit is not greater than $3,500. This Section 6.04(A) applies only to a Participant who has completed at least one Hour of Service with the Employer after August 22, 1984.

  • Qualified Joint and Survivor Annuity An immediate annuity for the life of the Participant with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse and which is the amount of benefit which can be purchased with the Participant's vested account balance. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Survivor Benefits 1. A surviving dependent of a retiree who was eligible to receive a Retiree Medical Grant, as stated above in A through C, and who qualifies for a monthly allowance shall be eligible for fifty (50) percent of the Grant authorized for the retiree.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Survivors Benefits Benefits for the surviving family members of individuals who have died from COVID–19, including cash assistance to widows, widowers, or dependents of individuals who died of COVID–19.

  • Contribution Formula Dental Coverage a. Faculty Member Coverage. For faculty member dental coverage, the Employer contributes an amount equal to the lesser of ninety percent (90%) of the faculty member premium of the State Dental Plan, or the actual faculty member premium of the dental plan chosen by the faculty member. However, for calendar years beginning January 1, 2006, and January 1, 2007, the minimum employee contribution shall be five dollars ($5.00) per month.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

Time is Money Join Law Insider Premium to draft better contracts faster.