[Oe List ...] [Dialogue] Order annuity
Jack Gilles
icabombay at igc.org
Fri Apr 24 08:27:39 EDT 2009
Dear Colleagues,
I can't be sure my memory is correct, but I think the formula for
receiving Order Annuity funds required a minimum of 10 years in the
Order. Then the amount was determined by your age, with the eldest,
like Lyn, getting the maximum amount and the youngest getting the
least. You had a choice to withdraw your total amount or leave it in
(no future withdrawal) and receive a minimum of a 10 year monthly
amount when you turned 65. The rate paid into the annuity through
interest was less than 3%. I thought there was a clause that if you
died before obtaining all of your annuity it would be rolled over to
fund those still living. That is why we left our money in so that it
would benefit those who really needed it. Now I'm not sure that
rollover is in affect.
G&P,
Jack
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