4 Guam Code Ann. § 8213
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Terms Used In 4 Guam Code Ann. § 8213
- Annuity: 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.
The board shall authorize the private pension, insurance, annuity, mutual fund, or other qualified company or companies with whom it contracts to make available to members such supplemental annuity options, disability and other insurance or benefits.