Program Operations Manual System (POMS)
   TN 1 (07-04)
   RM 03270.011 Terms Used on ERISA Notice Form SSA- L99-C1 — Glossary
   
   
   
   
      
         
            
            
         
         
            
            
               
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                   TERM 
                  
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                   DEFINITION 
                  
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                   “Annuity Payable Over a Fixed Number of Years” 
                  
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                   A pension payable for not less than a specified period. If the participant dies within
                     the period, payment for the balance of the period is paid to survivor.
                   
                  
                    
                  
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                   “Cash Refund Life Annuity” 
                  
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                   A pension payable for life that guarantees payment of a fixed sum. If the participant
                     dies before receiving pension payments equal to that sum, the balance is paid to survivor.
                   
                  
                    
                  
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                   “Joint and Last Survivor Life Annuity” 
                  
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                   A pension payable for life and, upon the participant's death, payable to survivor
                     (in either the same or a reduced amount).
                   
                  
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                   “Life Annuity” 
                  
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                   A pension payable for the life of the participant. 
                  
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                   “Life Annuity With Period Certain” 
                  
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                   A pension payable for life but not less than a specified period. If the participant
                     dies within the period, payment for the balance of the period is paid to survivor.
                   
                  
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                   “Modified Cash Refund Life Annuity” 
                  
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                   A pension payable for life with a guarantee that pension payments will equal the participant's
                     contributions. If the participant dies before receiving payments equal to contributions
                     made, the difference is paid to survivor.
                   
                  
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                   “Single Sum Annuity” 
                  
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                   A lump sum amount payable in lieu of a pension paid in periodic installments. 
                  
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                   “Other” 
                  
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                   All other types of annuities not specified. 
                  
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