Business / Taxes / Annuitant: An annuitant is a person who receives income from an annuity. If you receive a distribution from an annuity that you or your employer buys with your 401(k) assets, you're the annuitant. Similarly, you're the annuitant if you take distributions from an individual retirement annuity (IRA) or from an individual annuity you buy with after-tax income. If your beneficiary receives annuity income after your death, he or she becomes the annuitant. It's also possible to buy an annuity naming someone other than the buyer — a disabled child, for example — as annuitant.
Business / Taxes / Income Annuity: An income annuity, sometimes called an immediate annuity, pays an annual income, usually in monthly installments. Your income is based on the annuity's price, your age (and your joint annuitant's age MORE
Business / Taxes / Annuitization: Annuitization means that you convert part or all of the money in a qualified retirement plan or nonqualified annuity contract into a stream of regular income payments, either for your lifetime or the MORE