A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
State Law
Arizona
means an annuity that is individually solicited, whether the product is classified as an individual or group annuity Arizona Laws 20-1243
Florida
means annual payments for life derived as provided in this chapter from the accumulated contributions of a member Florida Statutes 238.01
Indiana
refers to an annuity contract issued in Indiana after June 30, 2015 Indiana Code 27-2-23-4
Louisiana
means annual payments for life, payable in equal monthly installments, derived from the accumulated contributions placed to the credit of the participant in the annuity reserve account Louisiana Revised Statutes 11:951.1
means payments for life derived from the “accumulated contributions” of a member Louisiana Revised Statutes 11:701
means payments for life derived from the accumulated contributions of a member Louisiana Revised Statutes 11:1002
shall mean payments for life derived from the “accumulated contributions” of a member Louisiana Revised Statutes 11:1581
shall mean payments for life derived from the accumulated contributions of a member Louisiana Revised Statutes 11:2031
Michigan
means an annuity that is an insurance product under state law that is individually solicited, whether the product is classified as an individual or group annuity Michigan Laws 500.4151
Minnesota
means a retirement annuity, optional survivors annuity, or spouses annuity Minnesota Statutes 354.05
Missouri
annual payments, made in equal monthly installments, to a retired member from funds provided for in, or authorized by, this chapter Missouri Laws 104.010
Montana
means a fixed annuity that is individually solicited, regardless of whether the product is classified as an individual or group annuity Montana Code 33-20-804
New York
shall mean the annual payments for life derived from contributions made by contributor as provided in this article N.Y. Education Law 501
North Carolina
means payment for life derived from the “Accumulated contribution” of a member North Carolina General Statutes 120-4.8
shall mean payments for life derived from that “accumulated contribution” of a member North Carolina General Statutes 135-1, North Carolina General Statutes 135-1
shall mean payments for life derived from the accumulated contribution of a member North Carolina General Statutes 128-21
Ohio
means payments for life derived from contributions made by a contributor and paid from the annuity and pension reserve fund as provided in this chapter Ohio Code 145.01, Ohio Code 3309.01
Rhode Island
means the amounts paid to any member of the municipal employees’ retirement system of the state of Rhode Island, or a survivor of the member, as provided in this chapter Rhode Island General Laws 45-21-2
South Carolina
means each contract or agreement to make periodic payments, whether in fixed or variable dollar amounts, or both, at specified intervals South Carolina Code 38-1-20
Tennessee
means a contract or agreement, both with and without a life or mortality element, to make periodic payments, whether in fixed or variable dollar amounts, or both, at specified intervals Tennessee Code 56-52-102
means any active annuity contract issued in this state other than an annuity used to fund an employment-based retirement plan or program where the insurer is not committed by terms of the annuity contract to pay death benefits to the beneficiaries of specific plan participants or that is used to fund a pre-need funeral contract as defined in &sect Tennessee Code 56-7-3403
Utah
means an agreement to make periodical payments for a period certain or over the lifetime of one or more individuals if the making or continuance of all or some of the series of the payments, or the amount of the payment, is dependent upon the continuance of human life Utah Code 31A-1-301
means monthly payments derived from member contributions Utah Code 49-11-102
Vermont
means annual payments for life actuarially derived from the accumulated contributions of a member
shall mean annual payments for life derived from the accumulated contributions of a member ,
Virginia
shall be deemed to include “variable annuity” and “modified guaranteed annuity” and shall be deemed to include a contract under which a lump sum cash settlement is an alternative to the option of periodic payments Virginia Code 38.2-106
Washington
means payments derived from contributions made by a member as provided herein Washington Code 41.44.030
means payments for life derived from accumulated contributions of a member Washington Code 41.40.010
means the moneys payable per year during life by reason of accumulated contributions of a member Washington Code 41.32.010
shall mean payments derived from contributions made by a member as provided in RCW 41 Washington Code 41.28.010
West Virginia
means an account established for each member to record the deposit of member contributions and employer contributions and interest, dividends, or other accumulations credited on behalf of the member West Virginia Code 18-7B-2
means an annual amount payable by the retirement system throughout the life of a person West Virginia Code 5-10-2
means the annuity payable by a state system West Virginia Code 5-13-2