Immediate annuity definition

Immediate annuity means an annuity, not including an annuity from additional contributions, which begins to accrue not later than 30 days after termination of employment.

Immediate annuity means an annuity that is paid under a policy, where the first payment period begins within 12 months after the policy has been entered into;

Immediate annuity means (1) as ap- plied to a retired employee, an annuity which begins to accrue not later than 1 month after the date of the separation from the service on which title to the annuity is based; and (2) as applied to a survivor, an annuity which begins to accrue not later than 1 month (i) after the date of death of the employee or annuitant whose service forms the basis for the annuity, or (ii) after the birth of a posthumous child of such an employee or annuitant.

Examples of Immediate annuity in a sentence

• Minimum age for annuity payment shall be 55 years of age (i.e. under Immediate annuity the minimum age at entry shall be 55 years and under Deferred annuity, the minimum vesting age shall be 55 years).

• Immediate annuity contracts, which are arrangements under which payments begin within 13 months of the issue date.

• For purposes of this § 4022.10, ‘‘age’’ means the participant’s age as of his or her last birthday (unless otherwise re- quired by the context).(a) Immediate annuity at or after age55.

• If the earliest date on which a par- ticipant could separate from service with the right to receive an immediate annuity is on or after the date the par- ticipant reaches age 55, the Earliest PBGC Retirement Date for the partici- pant is the earliest date on which the participant could separate from service with the right to receive an immediate annuity.(b) Immediate annuity before age 55.

• Immediate annuity payments for Eligible Window Participants who timely elect to receive such payments will be determined as of the Lump Sum Determination Date.

More Definitions of Immediate annuity

Immediate annuity means an Annuity Contract that

Immediate annuity means an option where the Annuity starts from the Vesting Date as per the payment mode chosen by You;

Immediate annuity means a contract between an individual and a person authorized to carry on an annuities business in Trinidad and Tobago under which, in consideration of a lumpsum payment made by the individual, the person agrees to pay to the individual

Immediate annuity. The Investor receives a guaranteed income within one year from the date of a single premium purchase. Income Phase: The period during which you receive payments from your Contract. Investor (also “you” or “participant”): The individual who participates in the Contract through a retirement plan.

Immediate annuity means an annuity payable in the Normal Form as of a Benefit Commencement Date that precedes the Participant’s Earliest Retirement Date.

Immediate annuity means an annuity that is paid under a policy, where the first payment period begins within 12 months after the policy has started;

Immediate annuity means an annuity, not including an annuity