CPCU 556 ch 12

A tax provision that states that the taxable part of annuity or installment payment is determined by excluding the part of the payment that is attributable to the employee's own net investment in the plan if any

the nontaxable portion of each annuity payment is determined by dividing the annuitant's investment in the contract by a factor from federal tables that is based only on a single annuitant's age or on annuitants combined ages if the annuity is payable over two or more lives

the distribution or payment within a single tax year, of a participants entire qualified retirement plan account balance

an item that may be subtracted from the total distribution when determining the taxable amount of a lump sum distribution; the difference between the fair market value of the securities at distribution and their cost or another basis to the plan

individual designated by a qualified retirement plan participant or owner to receive any remaining plan benefits after the participant dies

A qualified retirement plan beneficiary option requiring minimum annual distributions over a beneficiary's life expectancy

the risk of loss of capital that occurs when a retired employee or spouse who is the owner of the annuity dies

Annuity contract selected by the owner may be single life annuity, qualified joint and survivor annuity, other joint life and last survivor annuity forms