Joint-Life Payout
Definition of 'Joint-Life Payout'One of two options normally available for retirees to choose as the method of payout for their employee retirement benefits. The joint-life payout option allows the retiree to receive benefits during the remainder of his/her life and guarantees income for another person after he/she has died, most often this other person is the retiree's spouse. Unless the retiree's statements explicitly states the joint-life payout, the default payout option is the single-life option. |
|
Investopedia explains 'Joint-Life Payout'In contrast, a single-life option will pay out benefits to a retiree starting at retirement, but the payouts cease upon the retiree's death. Choosing a payout option is an important decision and several factors should be taken into consideration, such as health, anticipated life expectancy and family's financial circumstances. |
Related Definitions
Articles Of Interest
-
Tax Tips For The Individual Investor
We give you seven guidelines to help you keep more of your money in your pocket. -
Business Owners: Avoid Enron-esque Retirement Plans
If your business administers a retirement plan, you should recognize what's at stake. -
Borrowing From Your Retirement Plan
Left with no alternative but to take money out from your retirement savings? Here are some guidelines. -
Common Questions About Retirement Plans
We offer some solutions for the individual taxpayer as well as the small business owner. -
Basic Investment Objectives
You might know about different asset types, but do you know how each type contributes to a particular goal? -
Exploring The Current Account In The Balance Of Payments
Learn how a country's current account balance reflects the country's economic health. -
Understanding And Playing The Dow Jones Industrial Average
Learn strategies for investing in this price-weighted index and how to interpret its movements. -
Writing A Covered Call
Writing an option is the process of selling to another investor the right, but not the obligation, to buy or sell a stock at a given price in the near future. It can also be referred to as shorting ... -
Arbitrage Squeezes Profit From Market Inefficiency
This influential strategy capitalizes on the relationship between price and liquidity. -
Financial Designations That Employers Require
We break down the designations that are important to have if you want to work in the financial sector.
Free Annual Reports