Terms Used In Maryland Code > STATE PERSONNEL AND PENSIONS > Division III > Title 35 > 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