Betterment of Rates. The amounts shown in the tables on page 16-17 are the guaranteed amounts. Current amounts offered to individuals of the same class may be obtained from us. Fixed annuity payments at the time of their commencement will not be less than those which would be provided by the application of the Policy Value to purchase any single consideration immediate annuity contract (as described in Section 4223 (a)(1)(E) of the New York Insurance Law) offered by the Company at the time to the same class of Annuitant. Adjusted Age Payments under Options 2 and 4 and the first payment under Options 3-V and 5-V are determined based on the adjusted age of the Annuitant. The adjusted age is the Annuitant’s actual age on the Annuitant’s nearest birthday, at the Annuity Commencement Date, adjusted as follows: Annuity Commencement Date Adjusted Age 2011 - 2019 Actual Age minus 1 2020 - 2026 Actual Age minus 2 2027 - 2033 Actual Age minus 3 2034 - 2040 Actual Age minus 4 After 2040 Actual Age minus 5 Election of Optional Method of Payment Before the Annuity Commencement Date You can elect or change an Income Option. You may elect in a notice You sign which gives us the facts that we need, annuity payments that may be either variable, fixed, or a combination of both. If You elect a combination, You must also tell us what part of the policy proceeds on the Annuity Commencement Date are to be applied to provide each type of payment (You must also specify which Subaccounts,) The amount of a combined payment will be the sum of the variable and fixed payments. Payments under a variable Income Option will reflect the investment performance of the selected Subaccount of the Separate Account AV1396 101 179 1003 Page 12 S1254R SECTION 10 - CONTINUED Payee Unless You specify otherwise, the Payee shall be the Annuitant, or the beneficiary as defined in the Beneficiary provision in Section 11.
Betterment of Rates. The amount used to purchase any single premium consideration immediate annuity contract offered by the Company will be equal to cash surrender value of this Contract. Annuity benefits at the time of their consideration will not be less than those that would have been provided to another applicant in the same rating class of annuitants.
Betterment of Rates. If greater benefits would result for a Fixed Annuity, the amount of the Annuitant's monthly payment will be the monthly payment produced by the then current settlement option rates, which will not be less than the rates used for a currently issued immediate annuity of the same form. It shall have a single stipulated payment equal to the Accumulation Value of the Participant Account being applied to effect the annuity. Any commuted values allowed will be determined based on the option elected and the Assumed Investment Rate used to determine the purchase rate for such annuities.
Betterment of Rates. The amounts shown in the tables on page 18-19 are the guaranteed amounts. Current amounts offered to individuals of the same class may be obtained from us. Fixed annuity payments at the time of their commencement will not be less than those which would be provided by the application of the policy value to purchase any single consideration immediate annuity contract (as described in Section 4223 (a)(1)(E) of the New York Insurance Law) offered by the Company at the time to the same class of annuitant. Adjusted Age Payments under fixed income options 2 and 4 and the first payment under variable income options 3-V and 5-V are determined based on the adjusted age of the annuitant. The adjusted age is the annuitant’s actual age on the annuitant’s nearest birthday, at the annuity commencement date, adjusted as follows:
Betterment of Rates. (a) Section 40.4(b) of Regulation No. 139 requires contracts funding defined contribution plans to provide that any annuity benefit purchased with respect to an amount equal to the plan participant’s account value as determined at the time of its commencement shall not be less than that which would be determined by the application of such amount to purchase a single consideration immediate annuity offered by the company to the same class of contracts.
Betterment of Rates. The amount of annuity benefits commencing on the Annuity Date will not be less than those that would be provided by the application of an amount to purchase any single consideration immediate annuity contract offered by the Company at the time to the same class of annuitants. Such amount applied to an Annuity Option on the Annuity Date is equal to the Contract Withdrawal Value, as defined in the Withdrawal Provisions of this Contract.
Betterment of Rates. The amount used to purchase any single premium consideration immediate annuity contract offered by the Company will be equal to cash surrender value of this Contract. Annuity benefits at the time of their consideration will not be less than those that would have been provided to another applicant in the same rating class of annuitants. Neither expenses the Company actually incurred, other than taxes on the investment return, nor mortality actually experienced shall adversely affect the dollar amount of variable annuity payments after such payments have commenced. SECTION 10: VARIABLE ANNUITY-1 SEPARATE ACCOUNT AND VALUATION
Betterment of Rates. 40.4(b) -- For any group annuity contract funding a defined contribution plan, the contract must provide that any annuity benefit purchased with respect to an amount equal to the plan participant’s account value as determined at the time of its commencement shall not be less than that which would be determined by the application of such amount to purchase a single consideration immediate annuity offered by the company to the same class of contracts.
Betterment of Rates. When you or your beneficiary begin benefits under a one-life or two-life annuity, we will compute any benefits provided by the portion of your Traditional Annuity accumulation resulting from amounts applied to the Traditional Annuity while this rate schedule is in effect on the basis stated above, or, if it produces a larger guaranteed benefit, on the basis in use for any single premium immediate annuities then being offered by TIAA for contracts of the same class as this contract. Guaranteed Annual Amount of Income Benefits under a One-Life Annuity with 10-Year Guaranteed Period Purchased by a Single Premium of $100 Credited to the Traditional Annuity One-twelfth of the amount shown is payable each month Age Attained When Premium is paid* Annuity Beginning at Age Attained When Premium is paid* Annuity Beginning at Age Attained When Premium is paid* Annuity Beginning at Age 60 Age 65 Age 70 Age 60 Age 65 Age 70 Age 60 Age 65 Age 70 The yearly payments shown above are those that result from a premium of $100 paid or credited to the Traditional Annuity when you have reached an age shown in the “Age Attained” column, but have not passed that birthday by as much as one month. All ages used in computing benefits are calculated in completed years and months. Payments at ages other than those shown, and under other income options, are computed on the basis stated in the rate schedule for benefits bought by premiums. For premiums other than $100, payments will be proportionate. * Premiums are considered to be paid, and will be credited to your contract, as of the first day of the month in which they are received.
Betterment of Rates. The amount used to purchase any single premium consideration immediate annuity contract offered by First Great-West will be equal to cash surrender value of this Contract. Annuity benefits at the time of their consideration will not be less than those that would have been provided to another applicant in the same rating class of annuitants.
