Market Value Adjustment definition
Market Value Adjustment means, on a given date, an amount equal to the lesser of (x) 98% and (y) a percentage determined according to the following formula: Market Value Adjustment = 98% – [(10yrCMTt – 10yrCMTlaunch) ×Duration], where 10yrCMTt = the 10-Year Treasury Constant Maturity Rate published each business day by the Board of Governors of the Federal Reserve System, or, if such rate ceases to be published, a successor rate reasonably determined by the Trustees (the “10-Year CMT”), on such repurchase date; 10yrCMTlaunch = the 10-Year CMT as of the end of the Initial Offering Period; and Duration = an estimate of the duration of the periodic interest payments of a hypothetical coupon-paying U.S. Government Security with a 25-year maturity, calculated by the Trust’s Investment Manager as of the end of the Initial Offering Period;
Market Value Adjustment is a positive or negative adjustment that may apply to surrender, withdrawals, transfers and amounts applied to an income plan, from a Fixed Sub-Account before the end of a Guarantee Period.
Market Value Adjustment. An adjustment to the amount withdrawn or transferred from an MVA Account prior to the end of the applicable Guarantee Period. The adjustment reflects the change in the value of the funds withdrawn or transferred due to the change in the interest rates since the beginning of the Guarantee Period.
Examples of Market Value Adjustment in a sentence
The repurchase price for Shares tendered by a Shareholder shall equal the product of (i) the Redemption Price for that Shareholder determined pursuant to Section 6.2(b) above as of the applicable repurchase date and after taking into account any distribution paid on the repurchase date, multiplied by (ii) the Market Value Adjustment on such repurchase date.
The market value of the Withdrawal is equal to the amount withdrawn multiplied by the Market Value Adjustment Factor.
An allocation from the Fixed Account may be subject to a Market Value Adjustment.
Systematic Partial Withdrawals from Fixed Allocations are not subject to a Market Value Adjustment.
All payments and values based on the Fixed Account may be subject to a Market Value Adjustment, the operation of which may cause such payments and values to increase or decrease.
More Definitions of Market Value Adjustment
Market Value Adjustment means an adjustment for increasing or decreasing the contract value of the account that supports the insurance contract in the event of a Non-benefit Responsive Withdrawal or a contract termination to reflect changes in interest rates or asset values since the receipt of funds by the insurer, according to a formula set forth in the contract.
Market Value Adjustment. Any amount withdrawn, transferred or annuitized prior to the end of that Guarantee Period may be subject to a Market Value Adjustment. The Market Value Adjustment will be calculated by multiplying the amount withdrawn, transferred or annuitized by the formula shown on the Contract Schedule. There will be no Market Value Adjustment on withdrawals from the MVA Account in the following situations:(1) death benefit paid under a Contract; (2) amounts withdrawn to pay fees or charges; (3) amounts withdrawn or transferred from MVA Account during the thirty (30) days prior to the end of the Guaranteed Period; (4) an Owner annuitizes this Contract under an Annuity Option providing for at least sixty (60) monthly Annuity Payments; and (5) any withdrawal subject to the MVA Waiver shown on the Contract Schedule. MVA ACCOUNT VALUES: The MVA Account portion of a Contract at any time is equal to:
Market Value Adjustment is a positive or negative adjustment that may apply to withdrawals or transfers, whether in whole or in part, and amounts applied to an income plan, from a Fixed Sub-Account before the end of a Guarantee Period.
Market Value Adjustment means the greater of (A) zero, and (B) a percentage equal to:
Market Value Adjustment. A Market Value Adjustment will not be applied to any portion of the Current Value which is paid under ECO.
Market Value Adjustment is defined in Section 13.
Market Value Adjustment. With respect to the Guarantee Period Accounts, any amount withdrawn, transferred or annuitized prior to the end of that guarantee period may be subject to a Market Value Adjustment. The Market Value Adjustment will be calculated by multiplying the amount withdrawn, transferred or annuitized by the formula described below: Amount x ( 1 + i ) n/12 ----------------------- ( 1 + j + .001 ) Where: i = rate earned in the account from which funds are being transferred j = current rate for a new Guarantee Period equal to the remaining term in the current Guarantee Period n = number of months remaining in the current Guarantee Period (rounded up)