Core annuity definition

Core annuity means any annuity other than a variable annuity.
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Core annuity means the benefits arising under the Scheme excluding GMP and Protected Rights benefits;
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Examples of Core annuity in a sentence

  • Contributions remitted must be allocated to the Core annuity fund, the Variable annuity fund, or a combination thereof, based upon the employees fund participation:a.

  • There is no limit to the amount the Variable portion of your annuity can be reduced.The Core annuity adjustment paid on May 1 during the first year after you retire is prorated based on the number of months you were retired during the calendar year you retired.

  • There will be no change for most retirees, as the Core annuity adjustment is 0.0%.

  • However, Core annuities can never be decreased below the original Core annuity amount.

  • Unlike a Core annuity, which is guaranteed never to be less than the initial Core monthly amount, a Variable annuity may decrease to less than the initial finalized monthly amount.

  • B E N E F I T STCore Annuity Adjustment Projections For 2018he Department of Employee Trust Funds will announce Core and Variable annuity adjustments by March, after final investment returns for calendar year 2017 have been determined and an actuarial analysis conducted.What can you expect in terms of the Core annuity adjustment this spring?As of July 31, preliminary returns for the Core Trust Fund were 9.6%.

  • The Core annuity adjustment is estimated to be between 7.0% and 7.4%.

  • For more than a year ETF has been advisingretirees to prepare for a large negative Core annuity adjustment, primarily due to the lingering effects of 2008 investment declines on the Core Fund.

  • If this figure were the finalized net return for the year, it would, when combined with investment gains and lossesalready in the books (smoothing), likely producea Core annuity adjustment of 0.9% to 1.3%.However, the year is far from over and the solid market performance we’ve seen to-date could stall or reverse itself.

  • In late April ETF will send all retirees a personalized an- nuity statement showing any change to the month- ly payment for the coming year, beginning with the May 1 payment, and the reason for the change.By law, a Core annuity adjustment will be paid if the adjustment rate is at least 0.5%; if less than 0.5%, no adjustment is made.

Related to Core 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.

  • 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.

  • Average annual payroll means the average of the annual

  • 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.

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

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

  • Early Opt-in Election means the occurrence of:

  • Special Enrollment Period means a period of time allowed under this Plan, other than the eligible person’s Initial Enrollment Period or an Open Enrollment Period, during which an eligible person can request coverage under this Plan as a result of certain events that create special enrollment rights.