What is an annuity commencement date mean?

What is an annuity commencement date mean?

The Annuity Commencement Date is the date on which annuity payments are scheduled to begin. Generally, the Contract Owner designates the Annuity Commencement Date at the time of application.

What does earliest commencement date mean on pension plan?

Related Definitions Early Commencement Date means the date on which Retirement Benefits commence prior to the Normal Commencement Date and shall be the later of the date elected by the Participant in accordance with Section 4.2(c) and his or her Date of Termination.

What does commenced date mean?

The commencement date is the date that a lease begins. In other words, the lease is commencing on this specific date. This is the day that the tenant takes possession of the rented property. Typically, a tenant’s move-in date coincides with the commencement date.

Can an annuity commencement date be changed?

The Annuity Payment Option may not be changed after the Annuity Commencement Date. If any portion of the annuity payment will be on a variable basis, the Annuity Payment Date will be 14 days after the Annuity Commencement Date.

What does annuity commencement date mean?

Annuity Commencement Date means the date as of which a benefit commences under the Plan. Annuity Commencement Date means the date the Annuity Payments commence in respect of a Covered Life and, if applicable, Contingent Life and Beneficiary, which is specified on the Annuity Exhibits.

What does annuitization date mean?

An annuity date is the date specified in an annuity contract when periodic payments to the annuitant begin. The annuity date is specified at the time the annuity is purchased, but it isn’t a hard-and-fast date; in most cases, it can easily be changed.

What is annuity start date?

Annuity Starting Date means the first day of the first period for which an amount is payable as an annuity or in any other form permitted under the Plan.