Annuity Contract

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Annuity Contract

The agreement outlining the terms of an annuity. Among other things, the contract spells out the contributions, employer matching contributions, benefit schedule, whether the annuity is fixed or variable, and what the early withdrawal penalties are. The annuitant and the insurance company agree on the annuity contract when the annuitant buys the annuity. Generally speaking, the insurance company maintains a standard set of annuity contracts to meet the needs of different annuitants.
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Fiduciary Counselors has served as the independent fiduciary for the purchase of annuity contracts totaling $9.
In this area, both parties are active in the market for Bulk Annuity contracts and its sub-segments for Buy-in and Buy-out transactions in the United Kingdom.
Trustee could purchase a series of $78,000 deferred annuity contracts each and every year the gifts are made to the trust.
Specific annuity contracts also are built to accommodate a stretch when the contract is inherited as a non-qualified asset, a feature that applies mainly to non-spousal beneficiaries.
The second part of a recent two-part Florida Bar Journal article titled "Unraveling the Mysteries of the Florida Exemptions for Life Insurance and Annuity Contracts, Part Two" discusses the creditor protection elements of annuity contracts.
3 billion of annuity contracts for pension plans including those of Verizon, Enron, and Visteon.
So-called stretch rules allow heirs-both spousal and non-spousal-who inherit assets (including annuity contracts that haven't been annuitized) inside a qualified retirement plan to stretch distributions over their lifetimes, meaning they can dodge the heavy tax burden that accompanies a one-time, lumpsum distribution of a death benefit.
This is the second installment of a two-part article that provides a detailed analysis of the creditor exemptions available under Florida law for life insurance policies and annuity contracts.
Most variable annuity contracts offer portfolio reallocation at defined intervals.
Among the products exempted are variable and credit life insurance and individual and group annuity contracts.
In Internal Revenue Bulletin 2004-26 the IRS issued final regulations (Treasury decision 9130, Required Distributions From Retirement Plans) concerning required minimum distributions under IRC section 410(a)(9) for defined benefit plans and annuity contracts providing benefits under qualified plans, individual retirement plans and section 403(b) contracts (www.