California Codes > Education Code > Title 2 > Division 4 > Part 28 > Chapter 18 > Article 1 – General Provisions
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Terms Used In California Codes > Education Code > Title 2 > Division 4 > Part 28 > Chapter 18 > Article 1 - General Provisions
- 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.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Trustee: A person or institution holding and administering property in trust.