A pension plan providing annuities at retirement to a group of people under a master contract. It is usually issued to an employer for the benefit of employees. The individual members of the group hold certificates as evidence of their annuities.
A contract between AUL and your employer, a plan trustee or a custodian that defines how invested funds are to be treated.
A retirement plan funding arrangement that provides periodic income payments at retirement to a group of people under a single group contract. See also group deferred annuity, deposit administration contract, and immediate participation guarantee (IPG) contract.