Sentences with phrase «benefit of a lump sum payment»

Fixed annuities offer a standard death benefit of a lump sum payment or withdrawals under an income option of the full value of the contract at time of death.

Not exact matches

Gelsinger won't share specifics on the packages offered to the workers who were let go, but a VMware spokesperson says that their severance included an undisclosed period of full pay and benefits, a lump sum payment based on years of employment, and outplacement services.

The settlement requires payment of a lump sum amount of $ 50,000 from Target Canada Inc. for the exclusive benefit of a registered charity selected by your Representatives.

A partial lump - sum payment whereby a portion of the accrued benefit is paid to the participant and the remaining amount is transferred to an eligible retirement plan, as defined in s. 402 (c)(8)(B) of the Internal Revenue Code, on behalf of the participant; or

The tax treatment of both super and death benefits is also affected by whether the benefits are paid as a lump sum or income stream (regular payments).

A self - managed super fund (SMSF) can pay benefits in the form of a lump sum, an income stream (pension) or a combination of both, provided the payment is allowed under super law and the fund's trust deed.

If you're under 55 when you leave your company, you'll be offered the option of taking your pension benefit as a lump - sum payment.

While the updated benefit kicked in on the first of the year, payments won't be made until summertime, when parents will receive a lump sum for the first half of 2015, after which payments will be made monthly.

«In much the same way investment advisors and the investment industry preach dollar - cost - averaging and investing small increments of money over a long period of time, as opposed to one lump sum of money all at once, I think that just goes to justify the benefit of taking the payments over the long run,» says Heath, «Especially if one didn't have a lot of financial aptitude.»

1) Bharti AXA Life Hospi Cash Rider (UIN: 130B007V02): This rider allows payment of a fixed benefit for each day of hospitalization and also provides lump sum benefit in case of surgery.

Whereas, a life insurance contract is an asset that is designed (at least traditionally) to provide a death benefit to one's estate, an annuity is centered around converting a lump sum payment (or series of payments) into a stream of income for a fixed period (usually for life).

If you have questions about whether your pension benefit — be it annuity payments, a lump sum or both — has been calculated correctly, the American Academy of Actuaries» Pension Assistance List may be able to provide answers.

Check whether your ex-employer is offering salary continuance or a lump sum payment, and whether you're still entitled to extended benefits or any kind of employment support.

Also, if the buyer makes a balloon payment, all of the taxes due on that balloon will be due in one lump sum payment, negating the contract's key tax benefit.

From 2013 label changes were made to better capture lump sum and income stream benefit payments for members that may have previously reported a combination of such benefit payments.10

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

Death Benefit Protection — Your entire accumulated value will be paid to your beneficiaries, who can elect to receive their benefits in a lump sum or series of payments.

While home equity loans give you all the flexibility and benefits of tapping into the value of your home when you need it, a home equity loan offers a lump - sum payment.

You make payments on the policy and, in return, the insurance company provides a lump - sum payment, also called a death benefit, to the beneficiaries you have chosen upon the death of the insured.

As long as you are within the IRS per diem limit you can receive 2 % or 4 % of the death benefit either monthly or through an annual lump sum payment.

One thing that seniors might consider is a single premium option which is a lump sum payment into a policy in return for a certain amount of death benefit.

Lump sum, where the life insurance company pays the total amount of the benefit in one single payment at the death of the insured

This means until the member has satisfied a condition of release with a «nil» cashing restriction, any unrestricted non-preserved benefits of theirs allocated to the TRIS (which would otherwise be fully accessible as a lump sum super benefit) are diminished by the annual pension payments from the TRIS.

When a member has unrestricted non-preserved benefits as part of their TRIS, they may partially commute the TRIS and receive a lump sum payment up to the amount of their unrestricted non-preserved benefits.

Hospi Cash Rider: - This rider allows payment of a fixed benefit for each day of hospitalization and also provides lump sum benefit in case of surgery.

Defined contribution plans usually allow lump - sum benefit payments to alternate payees, but some also provide for a stream of payments over the payee's lifetime after retirement.

It may have been from a Defined Contribution (DC) pension plan where you bought mutual funds during your employment or it may have been from a Defined Benefit (DB) pension plan where you chose a lump - sum payout instead of a future monthly pension payment.

If the lump sum payment is made through the estate of the deceased member, the amount of the deduction depends on the extent to which an eligible dependant is expected to benefit from the estate.

The payment is only payable where the death benefit is being paid as a lump sum to an eligible dependant of the deceased member, who is either a:

The benefits of the SPIA annuity will also include the tax deferral that is derived from receiving income in payments instead of in one large lump sum.

The research indicates that when DC plans offer distribution options alongside a one - time lump - sum benefit payment, a good number of retiring plan participants are interested in, and take advantage, of these options.

Different treatment arises for the purposes of your transfer balance account depending on whether, under the payment split, the non-member spouse is entitled to either a lump sum amount or a percentage of the member spouse's superannuation income stream benefits payable from the superannuation income stream.

If there are no dependent children, or none that are eligible for this benefit at the time of death, the beneficiary will receive a lump sum payment of $ 2,500.

If the settlement provides for the payment of a lump sum in an amount offered by the insurer and, with respect to a benefit under the Statutory Accident Benefits Schedule that is not a lump sum benefit, the settlement contains a restriction on the insured person's right to mediate, litigate, arbitrate, appeal or apply to vary an order as provided in section 280 to 284 of the Act, a statement of the insurer's estimate of the commuted value of the benefit and an explanation of hoe the insurer determined the commuted value.

I agree to settle at this time in order to obtain a lump sum payment in order that I need not become compelled to attend on assessments, medical appointments, and participate in rehabilitation programs mandated by the accident benefit insurer and to avoid the risks of proceeding to arbitration.

Special provision is made for offers in personal injury claims that include future pecuniary loss with periodical payments versus lump sum implications (CPR 36.5), for claims for elusive provisional damages (CPR 36.6) and where there could be deduction of recoverable benefits (CPR 36.15).

These benefits are comprised of a modest lump sum payment and weekly benefit payable for 104 weeks.

Pt 36 is amended to allow for the recovery of monies from a lump sum compensation payment claims under The Social Security (Recovery of Benefits)(Lump Sum Payments) Regulations 2008 (SI 2008/3lump sum compensation payment claims under The Social Security (Recovery of Benefits)(Lump Sum Payments) Regulations 2008 (SI 2008/3Lump Sum Payments) Regulations 2008 (SI 2008/355);

Discuss your payment options with a PA employment lawyer to decide on what type of payment is in your best interest, since accepting a lump sum will waive your rights to receiving future benefits connected to the injury.

c) two Superior Court cases decided by Justice T.R. Lofchik in Cromwell V. Liberty Mutual Insurance Co. 3 and Vanderkop v. Personal Insurance Co. of Canada4 essentially concluding that lump sum payments pursuant to a settlement of a long term disability claim not specifically broken down do not constitute «a payment under any income continuation plan» in accordance with section 7 of the SABS, and consequently need not be deducted from an income replacement benefit that may be ongoing.

Although Deeley had provided Wood with the benefits she was entitled to during the notice period as well as a lump sum payment to arguably account for the lack of severance pay, this did not change the fact that the termination clause was deficient and unenforceable.

Any portion of lump sum payments of retroactive Social Security Disability benefits paid to children not credited against the existing child support arrearage is properly treated as a gratuity to the children.

Upon remarriage of the surviving spouse a payment of two years compensation is made in a lump sum before benefits end.

Under this provision, claims can be made for the benefit of the child for: periodical payments, school fees, lump sum (s), settlement of property and / or transfer of property.

Mr. MacLean succeeded in having the court use all of the companies pre-tax profits for the SSAG calculation based on BCCA law from the cases of Klukas and Teja, defeating the husband's spousal support claim that double dipping applied to BC spousal support and a lower BC spousal and BC child support payment should thus be paid, blocking any $ 350,000 cap argument where BC spousal support is not increased on high salaries above $ 350,000 per year and finally in having the child support portion of the order made retroactive so a large lump sum payment was received for the children's benefit.

Because with term insurance, you're generally just paying for the death benefit, the lump sum payment your beneficiaries will receive if you die during the term of the policy.

SPUL offers permanent protection with the benefit of a one - time lump sum payment.

The Accelerated Living Benefit Rider provides for a single lump sum payment of an accelerated life insurance benefit using a portion of your life insurance certificate's death bBenefit Rider provides for a single lump sum payment of an accelerated life insurance benefit using a portion of your life insurance certificate's death bbenefit using a portion of your life insurance certificate's death benefitbenefit.

In the majority of cases, a named beneficiary will receive the death benefits as a lump sum payment and these proceeds are not subject to income tax.

Critical illness insurance definition: a type of health insurance policy that pays out a lump sum cash benefit payment for a qualifying condition, such as cancer, paralysis, heart disease and stroke.