Annuitized definition

Annuitized means an annuity providing payments to the individual or other entity.
Annuitized means that an annuity is paying a fixed, equal amount to the annuitant on a periodic basis. Payments shall be no less frequent than monthly over a number of years equal to or less than the annuitant's life expectancy as indicated in life expectancy tables provided by the Secretary for the Department of Health and Human Services, contained in Section 3258.9 (Revision 64), Part 3 of the Health Care Financing Administration's State Medicaid Manual and titled “Life Expectancy Table -Males and Life Expectancy Table -Females”. The final annuity payment may be for an amount less than the previously fixed annuity payments in order to fully exhaust benefits under the annuity. An annuity shall be considered annuitized even though it may provide an annual cost of living adjustment equal to or less than 5%.
Annuitized means to have converted the Accumulation Value or the Surrender Value of an Annuity into the right to receive periodic payments.

Examples of Annuitized in a sentence

  • Annuitized payments of the Grand Prize or a share of the Grand Prize may be rounded to facilitate the purchase of an appropriate funding mechanism.

  • Annuitized payments of the jackpot prize or a share of the jackpot prize may be rounded to facilitate the purchase of an appropriate funding mechanism.

  • Annuitized payments of the grand prize or a share of the grand prize may be rounded to facilitate the purchase of an appropriate funding mechanism.

  • As an alternative to the Annuitized Payment Option, the Top Prize Winner may request the Top Prize Cash Option in the amount set forth in the Published Notice.

  • Any of these two (2) to fourteen (14) Top Prize Winners may choose the Cash Option as an alternative to the Annuitized Payment Option.

  • Under certain circumstances, as detailed below, the second prize is required to be paid in a single Lump Sum Cash Payment and no Annuitized Payment Option is available.

  • If there are between two (2) and fourteen (14) Top Prize Winners, the Annuitized Payment Option, based on an annuitized prize value of seven thousand dollars ($7,000.00) per week, will be divided by the total number of Top Prize Winners.

  • Under certain circumstances, as detailed below, the Top Prize is required to be paid in a single Lump Sum Cash Payment and no Annuitized Payment Option is available.

  • Annuitized value of the ASAF balance, if any, is added to the benefit.

  • Annuitized Retired Pay.Members of the Uniformed Services covered under the BRS are eligible to receive retired or retainer pay in accordance with all existing provisions of DoD Financial Management Regulation (FMR), Volume 7B, Chapter 1, with the exception that their monthly retired or retainer pay will be calculated using a different formula than under the legacy retirement systems.


More Definitions of Annuitized

Annuitized means to have converted the Accumulation Value

Related to Annuitized

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Annuities means all agreements to make periodical payments for a period certain or where the making or continuance of all or some of a series of such payments, or the amount of any such payment, depends upon the continuance of human life, except payments made under the authority of paragraph one hereof. Amounts paid the insurer to provide annuities and proceeds applied under optional modes of settlement or under dividend options may be allocated by the insurer to one or more separate accounts pursuant to section four thousand two hundred forty of this chapter.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • Actuarial equivalent means a benefit of equal value when

  • Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

  • Annuity Unit An accounting unit of measure used to calculate the amount of Annuity Payments.

  • Single Life Annuity means an annuity payable for the life of a Participant.

  • Accrual Balance means the liability that should be accrued by the Bank, under Generally Accepted Accounting Principles (“GAAP”), for the Bank’s obligation to the Executive under this Agreement, by applying Accounting Principles Board Opinion Number 12 as amended by Statement of Financial Accounting Standards Number 106 and the Discount Rate. Any one of a variety of amortization methods may be used to determine the Accrual Balance. However, once chosen, the method must be consistently applied.

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Credited Service means the member's total period of service

  • Life expectancy means life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Accrual basis means the recording of revenue in the period when it is earned, regardless of when it is collected, and the recording of expenses in the period when incurred, regardless of when they are paid.

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Group Annuity Contract means a master contract providing annuities to a group of persons under a single con- tract.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;