How is the payment to the annuitant or annuitants determined?
The fixed-dollar, annual amount paid to the annuitant or annuitants is based upon the age of the annuitant or annuitants, at the time the annuity is created. The annuity rate or percent being paid is higher for an older annuitant or annuitants. The Foundation has indicated to the State of Florida’s Insurance Commissioner that it will not a pay rate that is higher than the rate recommended by the American Council on Gift Annuities.
Related Questions
- After I die, and if I chose a payment option with an annuitant, can my beneficiary or joint annuitant remarry and continue receiving a benefit from my account?
- May I change the optional payment plan, contingent annuitant or beneficiary I selected at any time during the retirement process or after retirement?
- What is the last payment due to a deceased annuitant?
