Without resets Sample Clauses

Without resets. The following is an illustration of the impact when there are no automatic GLWB Resets or resets of the Death Benefit Base. It assumes the same facts as the example immediately above, except it assumes negative investment performance averaging -2.35% per year, after fees. Older Annuitant Age Younger Annuitant Age Aggregate Unit Value of Income Class Units 5% Bonus Base LWA Base LWA Minimum Class Contract Maturity Benefit Minimum Class Death Benefit 70 65 $200,000 $200,000 $200,000 $9,000 ($200,000 * 4.5%) $150,000 ($200,000 * 75%) $200,000 ($200,000 * 100%) Assume the Aggregate Unit Value of Income Class Units on the reset date at age 68 is $164,170 73 68 $164,170 $200,000 (unchanged) $200,000 (unchanged) $9,000 ($200,000 * 4.5%) (unchanged) $129,286 $172,382 Assume Annual LWA withdrawal of $9,000 at end of year at age 68 73 68 $152,581 $200,000 $200,000 $9,000 $122,085 $162,780 ($161,581 - $9,000) (unchanged) (unchanged) (unchanged) [($161,581 - $9,000) [($161,581 - $9,000) / / $161,581 * $129,286] $161,581 * $172,382] Assume the Aggregate Unit Value of Income Class Units on the reset date at age 80 is $42,197 85 80 $42,197 $200,000 (unchanged) $200,000 (unchanged) $9,000 (unchanged) ($200,000 * 4.5%) $39,411 $52,549 Assume Annual LWA withdrawal of $9,000 at end of year at age 80 85 80 $32,863 $200,000 $200,000 $9,000 $30,938 $41,252 ($41,863 - $9,000) (unchanged) (unchanged) (unchanged) [($41,863 - $9,000) / $41,863 * $39,411] [($41,863 - $9,000) / $41,863 * $52,549]
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Related to Without resets

  • Leave Without Pay An employee shall not be entitled to payment for a public holiday falling during a period of leave without pay (including sick leave and military leave without pay) unless the employee has worked during the fortnight ending on the day on which the holiday is observed.

  • OTHER LEAVE WITH OR WITHOUT PAY 17.01 In respect to applications for leave made pursuant to this Article, the employee may be required to provide satisfactory validation of the circumstances necessitating such requests.

  • Without Notice This agreement shall terminate without any requirement of notice to either party when the first of the following events occurs: 5.1.1. The parties mutually consent to termination in writing.

  • Without Pay where an employee participates in a program of training for the purpose of qualifying for a higher rank; or

  • Suspension Without Pay If Employee is suspended and/or temporarily prohibited from participating in the conduct of the Employer’s affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act, the Employer’s obligations under this Agreement will be suspended as of the date of service thereof, unless stayed by appropriate proceedings. If the charges in such notice are dismissed, the Employer may in its discretion: (a) pay Employee all or part of the compensation withheld while its contract obligations were suspended; and/or (b) reinstate (in whole or in part) any of its obligations which were suspended.