Retirement Annuity

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Retirement Annuity

An annuity one purchases to provide for oneself in retirement. In general, one purchases a retirement annuity well before retirement and makes contributions to it throughout one's working life. The contributions are invested on behalf of the annuitant, who begins to receive payments from the annuity after retirement. Many retirement annuities (especially those sponsored by an employer) are tax-deferred, meaning that the annuitant does not pay taxes on the funds in the pension until he/she begins making withdrawals. Annuities may have defined contributions, defined benefits, or both. See also: 401(k), IRA.
References in periodicals archive ?
The number of retirement annuities being bought by savers has also started to edge upwards for the first time in three years, in signs that the freedoms - launched in April - have not killed them off.
And almost 20 percent of Americans' long-term savings is in permanent life insurance and retirement annuities.
The group said the Government was right to be trying to fix the "broken" retirement annuities market, after it found that just 42% of people reaching the end of their working lives think their pension provider will do what is best for their customer.
Something else to consider when it comes to retirement annuities (RA) is to split the allowable premium between a number of different RA's.
Pat and her team of 29 counselors, policy experts, HR assistants and other program support staff have sole responsibility for adjudicating retirement annuities for all Foreign Service employees and share responsibility with the Office of Personnel Management for administering benefits to Department employees in the three Civil Service retirement plans: the Civil Service Retirement System (the "old" system), the CSRS-Offset System and the Federal Employees Retirement System (the "new" system).
These assumptions have no impact on the real payouts from the retirement annuities but determine the current notional value of recognition certificates, which is useful for making broad economic comparisons.
although their retirement annuities remain frozen at the level at which they existed when the officers exercised the deferred option.
Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of retirement annuities and supplemental insurance products.
Horace Mann -- the largest national multiline insurance company focusing on educators' financial needs -- provides auto and homeowners insurance, retirement annuities, life insurance and other financial solutions.
Through the operations of the Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of retirement annuities, supplemental insurance and life products.
Through its subsidiaries, GAFRI markets retirement annuities and other life and supplemental health insurance.
Rationale for the 'AAA' ratings include TIAA's dominant market share in the higher education pension marketplace, position as a leading provider of individual retirement annuities and a very strong capital position on both an absolute and risk adjusted basis.