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 if you name one), the term length, and the specific details of the contract. It's also dependent on the annuity provider's ability to meet its obligations. You might buy an income annuity with assets from your 401(k) plan, or your plan may buy an income annuity on your behalf. In that case, the annuity provider guarantees an income that will satisfy your minimum required distribution.
Income Adjective Synonyms: return, revenue(s), receipts, proceeds, profit(s), gain(s), takings
Business / Taxes / Annuity Unit: Annuity units are the shares you own in variable annuity subaccounts, also called annuity funds or separate account funds, during the period you're receiving income from the annuity. The number of you MORE
Business / Finance / Net Income Before Taxes: Total revenues minus total expenses except the income tax expense, for a specified time. Also known as pretax income. MORE