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.
Federal Law
means a payment due an entitled individual for a calendar month and made to him or her on the first day of the following month 43 CFR 3134.1-2 means a payment due an entitled individual for a calendar month and payable to him or her on the first day of the following month 43 CFR 3191.3-1 means a payment under the Railroad Retirement Act due and payable to an entitled claimant for a calendar month and made to him or her on the first day of the following month 43 CFR 3205.6 means a payment under the Railroad Retirement Act due to an entitlement claimant for a calendar month and made to him or her on the first day of the following month 43 CFR 3175.117 means a recurring payment due an entitled person for a calendar month and made to him or her on the first day of the following month 43 CFR 3160.0-9 means the gross monthly annuity rate payable before any authorized deductions (such as those for health benefits and life insurance premiums) 14 CFR 302.722
State Law
Alabama
Payments for life derived from the “accumulated contributions” of a member Alabama Code 36-27-1 Payments for life derived from the accumulated contributions of a member Alabama Code 12-17-227, Alabama Code 45-38-243.05
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 374.981
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, Louisiana Revised Statutes 11:2031
Maryland
includes :

(i) an additional benefit that operates to safeguard the contract from lapse or to provide a special surrender value, special benefit, or annuity in the event of the total and permanent disability of the holder; and

(ii) benefits that provide payment or reimbursement for long–term home health care or long–term care in a nursing home or other related institution

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 260C.177
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. New York City Administrative Code 27-2117
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 31-3-580
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
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