Annual benefit

Annual benefit (1)In general(i)Definition of annual benefit(A)Straight life annuities.For purposes of this section and 1.415(b)2, the termannual benefitmeans a benefit that is payable in the form of a straight life annuity. Astraight life annuitymeans an annuity payable in equal installments for the life of the participant that terminates upon the participant's death. Examples of benefits that are not in the form of a straight life annuity include an annuity with a post-retirement death benefit and an annuity providing a guaranteed number of payments. If a benefit is payable in the form of a straight life annuity, no adjustment is made to the benefit to account for differences in the timing of payments during a year (for example, no adjustment is made on account of the annuity being payable in annual or monthly installments).


26 CFR § 1.415(b)-1

Scoping language

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