Maryland Code > STATE PERSONNEL AND PENSIONS > Division II > Title 32 > Subtitle 1 – Definitions
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| § 32-101 | Definitions |
Terms Used In Maryland Code > STATE PERSONNEL AND PENSIONS > Division II > Title 32 > Subtitle 1 - Definitions
- 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.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See