Net annuity definition

Net annuity means the net annuity as defined in 831.1703.
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Net annuity means the amount of annuity payable after deducting from the gross annuity any amounts that are (1) owed by the retiree to the United States, (2) deducted for health benefits premiums pursuant to section 8906 of title 5, United States Code, and § § 891.401 and 891.402 of this title, (3) deducted for life insurance premiums pursuant to section 8714a(d) of title 5, United States Code, (4) deducted for Medicare premiums, or (5) properly withheld for Federal income tax purposes, if amounts withheld are not greater than they would be if the individual claimed all dependents to which he or she was entitled.
Sample 1
Net annuity means annuity after excluding amounts requried by law to be deducted. For example, Federal income tax is excluded up to the maximum amount that the individual is entitled to for all dependents. Other
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Examples of Net annuity in a sentence

  • Contract deposits include amounts received from customers on deposit-type contracts.Retirement Product Lines:• Net annuity contract deposits: Reflects total recurring deposits and single deposits/rollovers – net of contract deposits ceded to reinsurers.

  • The term ‘‘unreduced annuity’’ will mean annuity after the social security offset.C. Net annuity or disposable annuity will be interpreted to mean net annuity as de- fined in § 838.1003.D. Orders that fail to state the type of an- nuity that they are dividing will be inter- preted as dividing gross annuity (defined above).

  • Net annuity" under FERS refers to the amount of annuity payable after deducting from the gross annuity any amounts listed in 1 through 4 above, but before the Federal income tax deduction listed in 6.

  • Net annuity or disposable annuity will be interpreted to mean net annuity as de- fined in § 838.1003.

  • The term ‘‘unreduced annuity’’ will mean annuity after the social security offset.C. Net annuity or disposable annuity will be interpreted to mean net annuity as de- fined in § 838.1003.D. Orders that fail to state the type of an- nuity that they are dividing will be inter- preted as dividing gross annuity (defined above).E.

  • Unless the court order expressly provides otherwise, gross annuity also includes any lump-sum payments made to the retiree under 5U.S.C. 8343a or 8420a.* * * * *Net annuity.

  • The taxation of gains from the realisation of Australasian equities will be similarly treated.Income earned from annuities: Net annuity income will continue to be determined using the old rules.

  • Contract deposits include amounts received from customers on deposit-type contracts.Retirement Product Lines: • Net annuity contract deposits: Reflects total recurring deposits and single deposits/rollovers – net of contract deposits ceded to reinsurers.

  • Net annuity policy capital receipts FY19 net annuity policy capital receipts were $686m and comprised: • annuity sales of $3,543m; less • annuity capital payments of $2,857m.

  • Net annuity or disposable annuity will be interpreted to mean net annuity as defined in § 831.1703.

Related to Net annuity

  • 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;

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

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

  • Variable Annuity An Annuity with payments that vary with the net investment results of one or more Funds under the Separate Account.

  • 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.

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

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

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

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

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

  • 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.

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of a 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 that can be purchased with the Participant's Vested Account Balance. The percentage of the survivor annuity under the Plan shall be 50%.

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

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • 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.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

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

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

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

  • 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.

  • Actuarial equivalent means a benefit of equal value when

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • 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.