Robert Ricks wrote:
- quote -

I hope that you are as old as I am (76), so that I can call you
"a dirty old man". lol
Cal

lon wrote:
- quote -

It is then quite obviouse that you have not paid attention to the replies
that were offered to you. You still have no idea of what an Annuity is.........


However, I wonder what would
- quote -


Earnings would then be income taxable when earned............
Cal Lester CLU

Shoot, I read the header line and almost took out an annuity!
Steve

David,
I think you have answered the question and yes its TIAA but I am not
sure what the gender penalty a mounts too ?. It would seem to me, at
least at first glance, that no matter what payout option ones select, 10
year, guarteen life et. one is stuck. However, I wonder what would
happen if I rolled the lump some over to some mutual says fidelity?
(just tire kicking). Does anyone have and ideal what this amounts to in
basis point or percentage ?..
Thanks

David Moore wrote:

- quote -

In 1983, the Supreme Court ruled that employers who offer
retirement annuity plans that pay women less per month (because
women live longer) violate anti-discrimination laws. The
case, I recall, involved TIAA, the big college retirement system
in which I participate. I don't believe the ruling applies to
non-employer annuities such as those sold by insurance companies,
but it may help explain why gender equality (per-month, equals
favoring women in total payout) is common.

When TIAA changed their annuity practice, they of course continued
to sell life insurance at lower premiums to women on the ground that
women live longer.

David

The central point is that the life span are different no matter how you figure
but both get the same amount per year/month/week or whatever but statically
females live longer!!!...and get more return then the male for the same amount
of investment.

Jesse Meyer wrote:

- quote -

The payout for a "Lifetime Annuity" must obviously be based upon the projected lifetime of the
Annuitant. Since "traditionaly" women have lived longer than men, the payout for women MUST be
smaller in order to last a sufficient time.
Do not confuse the "lifetime" payout with a "time certain" payout. In the time certain, the company
KNOWS in advance the EXACT cost to be borne, and the payout WOULD be the same for both male & female
Cal Lester CLU


lon wrote:
- quote -

lon <lcasino[at]Joimail.com> wrote:
- quote -

Don't confuse life expectancy at birth with life expectancy at
retirement.

Men tend to have more accidental deaths, deaths due to violence, and
suicides when they are younger.

While there is still a difference in life expectancy at retirement,
it won't be as large as 5.3 years.

--
With sufficient thrust, pigs fly just fine. However, this is
not necessarily a good idea. It is hard to be sure where they
are going to land, and it could be dangerous sitting under them
as they fly overhead. -- RFC 1925

I read today in the newspaper that the expected life difference between
male and female is closing. Females 80.1 years
and males 74.8 years. What I have tried to understand is how are male
and female payouts from an annuity the same if the females lives longer.
I have asked one of the funds I invest in that question and I got two
answers see below. I am still not clear what's going on here and I have
asked other list. I s this the same story for funds in general.
Thanks

"It is our understanding that male and female life expectancies are
different, thus, the payouts for lifetime annuity settlements will be
different. Since males statistically have a shorter life expectancy, one

can surmise that a slightly higher payout should occur (based on a male
or
female annuitant being the same age at settlement and contributing the
same premium amount). We cannot provide more exact details about how
(--------) actuarial tables come into play."

They recommended that I call fund support folks which I
did and I was told that male and female get the same amount!!. I asked
them to further explain and they stated that based upon their tables
male
and female annuitants in their funds live to almost the same age. I am

dubious but there is criteria which restricts access to non profits.
This is beginning to seem like discrimination. Is this common?