Modified Cash Refund Annuity


Definition of "Modified cash refund annuity"

Latonia M. Parks real estate agent
Latonia M. Parks, Real Estate Agent Top Bragg Realty And Property Management

Form of cash refund annuity used by contributory pension or employee benefit plans. When employee participants die before receiving all of their contributions in the form of retirement benefits, this type of annuity guarantees to repay the remainder of those contributions, with interest, to the beneficiaries.

 

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