12/11/2023 0 Comments Penn mutual accumulation builder ulDuring the life of the contract, however, amounts credited to the deposit account may be converted into a stream of guaranteed benefits for individual retirees. 50 (GAC 50), an agreement of a type known as a "participating group annuity." Under such a contract, the insurer commingles with its general corporate assets deposits received to secure retiree benefits, and does not immediately apply those deposits to the purchase of annuities. Petitioner John Hancock Mutual Life Insurance Company (Hancock) and respondent Harris Trust and Savings Bank (Harris), the current trustee of a corporation's retirement plan, are party to Group Annuity Contract No. Argued October 12, 1993-Decided December 13,1993 HARRIS TRUST AND SAVINGS BANK, AS TRUSTEE OF THE SPERRY MASTER RETIREMENT TRUST NO.2ĬERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE SECOND CIRCUIT
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |