group annuity

A contract providing annuities for the members of a defined group of persons, usually the employees of a business or industry, or of such part of them as desire to participate and are eligible under the arrangement or plan provided, the conditions of the contract being stated in a master policy and the participation by an individual being noted in a certificate of insurance issued to him.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • group annuity — see annuity Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • group annuity — noun : a pension plan providing annuities at retirement for all eligible persons under a single master contract usually issued to an employer for the benefit of employees * * * Insurance. a plan in which the members of a group, usually employees… …   Useful english dictionary

  • group annuity — Type of pension plan for employees under a master plan or contract in which employer each year buys a deferred annuity for each qualified employee. The individual members of the group hold certificates as evidence of their coverage …   Black's law dictionary

  • group annuity — Insurance. a plan in which the members of a group, usually employees of the same company, receive annuities upon retirement. * * * …   Universalium

  • annuity — an·nu·ity /ə nü ə tē, nyü / n pl ities [Medieval Latin annuitas, from Latin annuus yearly] 1: an amount payable at regular intervals (as yearly or quarterly) for a certain or uncertain period 2: the grant of or the right to receive an annuity his …   Law dictionary

  • annuity — /an(y)uwatiy/ A right to receive fixed, periodic payments, either for life or for a term of years. Moore v. O Cheskey, App., 87 N.M. 66, 529 P.2d 292, 293. A fixed sum payable to a person at specified intervals for a specific period of time or… …   Black's law dictionary

  • annuity — /an(y)uwatiy/ A right to receive fixed, periodic payments, either for life or for a term of years. Moore v. O Cheskey, App., 87 N.M. 66, 529 P.2d 292, 293. A fixed sum payable to a person at specified intervals for a specific period of time or… …   Black's law dictionary

  • Equity-indexed annuity — An equity index annuity in the United States is a type of tax deferred annuity whose credited interest is linked to an equity index SEE EXAMPLE HERE>> [http://ffradvisor.com/marketindex.html] , and typically uses the S P 500 or international… …   Wikipedia

  • Future Value Of An Annuity — The value of a group of payments at a specified date in the future. These payments are known as an annuity, or set of cash flows. The future value of an annuity measures how much you would have in the future given a specified rate of return or… …   Investment dictionary

  • Grantor Retained Annuity Trust — A Grantor Retained Annuity Trust (commonly referred to by the acronym GRAT) , is a financial instrument commonly used in the United States to make large financial gifts to family members without paying a U.S. gift tax. [… …   Wikipedia

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