Single life annuity pension option
[DOC File]Distributions from Qualified Plans
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Single Life Annuity. then such option is available to the Covered Life (“you” or “your”). The option allows you to convert a portion of your monthly payment under a Single Life Annuity into a Spousal Joint and Survivor Annuity Form. Before your option exercise can become effective, you must meet the applicable Conversion Conditions.
Single-Life Payout Definition
Note: The default option for Kansas retirement system is a life annuity for the retiree with 10 years guaranteed payments to a beneficiary if the retiree dies within 10 years. In this paper, this option is classified as a single life annuity option.
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Single Lifetime Annuity. This option pays you an income for as long as you live, with payments stopping at your death. This option is also available with a 10, 15, or 20 year guaranteed payment period (but not exceeding your life expectancy at the time you begin annuity income).
[DOCX File]McGill, Dan, Kyle Brown, John Haley, Sylvester Schieber ...
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The single life annuity must be made available for election to married participants if the plan does not fully subsidize the QJSA (i.e., the participant’s benefit is reduced when the single life annuity is converted to a QJSA). Optional Forms of Payment – Note: Optional forms of payment are subject to the anti-cutback rules of IRC §411(d)(6).
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