Financial Facelift: Sustaining solid income in volatile financial markets Oct 20, 2008
In exchange for a capital sum, the price of the annuity, they pay a predetermined income for the life of the buyer, the annuitant, or the buyer and spouse whatever is decided ... Annuities pay the going rate on government bonds plus a boost that reflects the mortality of an annuitants, the planner notes. (Globe and Mail -- Business)
Service to retirees tops conference agenda Mar 7, 2008
Mary Ann Schaefer, a contractor with Lockheed Martin Corporation, provided training on the Defense Retiree Annuitant System, which allows RSOs to go into retirees' accounts and update information, such as an address change. Without DRAS training, an RSO would have to call the Defense Finance and Accounting Service in Cleveland, for example, to report a death and sometimes spend 45 minutes on the phone, Schaefer said. (Leavenworth Lamp, KS)
On golden pond Apr 11, 2007
In many cases an annuity has no residual value when the annuitant dies, but this does depend on the terms of the annuity ... In this case the estate would receive any unused portion of the annuity if the annuitant died before 10 years had elapsed. (Sydney Morning Herald -- Business)
Retirement tax breaks Mar 9, 2007
It was lowered last year from 18 percent; however, there have been calls year in and year out before the Budget speeches to do away with this tax as it effectively taxes the same money twice that is, the money in the funds are taxed at nine percent and then the annuitant is taxed on the income he/she draws from the funds in his/her retirement years. So in other words, you will still be taxed on the balance of the funds. (iAfrica.com)
