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Secondary Market Annuity
Secondary market annuity is a where an owner of an annuity sells it to a third party in exchange for a lump sum. The effect is that the seller swaps a stream of periodic payments for a immediate lump sum payment. The initial holder of the annuity may have received a structured settlement through a court settlement, insurance claim, or other means but wants or needs immediate liquidity. The annuity is typically sold at a discount, meaning the buyer pays less than the total value of the future payments. This discount reflects the time value of money and provides a potential yield advantage for the buyer. There may also be tax advantages for the buyer who is typically in investor. Some salespeople call the investment in an annuity based on a structured settlement a secondary market annuity. This is a misnomer as it may not meet the definition of annuity under the insurance law for many states and therefore does not enjoy the statutory protections, which is a risk for the buyer. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annuity
In investment, an annuity is a series of payments made at equal intervals based on a contract with a lump sum of money. Insurance companies are common annuity providers and are used by clients for things like retirement or death benefits. Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates. The payments (deposits) may be made weekly, monthly, quarterly, yearly, or at any other regular interval of time. Annuities may be calculated by mathematical functions known as "annuity functions". An annuity which provides for payments for the remainder of a person's lifetime is a life annuity. An annuity which continues indefinitely is a perpetuity. Types Annuities may be classified in several ways. Timing of payments Payments of an ''annuity-immediate'' are made at the end of payment periods, so that interest accrues between the issu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eastern District Of Pennsylvania
The United States District Court for the Eastern District of Pennsylvania (in case citations, E.D. Pa.) is one of the original 13 federal judiciary districts created by the Judiciary Act of 1789. It originally sat in Independence Hall in Philadelphia as the United States District Court for the District of Pennsylvania, and is now located at the James A. Byrne Courthouse, James Byrne Courthouse at 601 Market Street (Philadelphia), Market Street in Philadelphia. There are four Eastern District federal courtrooms in Pennsylvania: Philadelphia, Allentown, Pennsylvania, Allentown, Reading, Pennsylvania, Reading, and Easton, Pennsylvania, Easton. The Court's jurisdiction includes nine counties in eastern Pennsylvania: Berks County, Pennsylvania, Berks, Bucks County, Pennsylvania, Bucks, Chester County, Pennsylvania, Chester, Delaware County, Pennsylvania, Delaware, Lancaster County, Pennsylvania, Lancaster, Lehigh County, Pennsylvania, Lehigh, Montgomery County, Pennsylvania, Montgome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structured Settlement Factoring Transaction
Structuring, also known as smurfing in banking jargon, is the practice of executing financial transactions such as making bank deposits in a specific pattern, calculated to avoid triggering financial institutions to file reports required by law, such as the United States' Bank Secrecy Act (BSA) and Internal Revenue Code section 6050I (relating to the requirement to file Form 8300). Structuring may be done in the context of money laundering, fraud, and other financial crimes. Legal restrictions on structuring are concerned with limiting the size of domestic transactions for individuals. Definition Structuring is the act of parceling what would otherwise be a large financial transaction into a series of smaller transactions to avoid scrutiny by regulators and law enforcement. Typically each of the smaller transactions is executed in an amount below some statutory limit that normally does not require a financial institution to file a report with a government agency. Criminal enterp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annuity (financial Contracts)
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive. The majority of life annuities are insurance products sold or issued by life insurance companies. However, substantial case law indicates that annuity products are not necessarily insurance products. Annuities can be purchased to provide an income during retirement, or originate from a '' structured settlement'' of a personal injury lawsuit. Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity. The payment stream from the issuer to the annuitant has an unknown duration based principally upon the date of death of the annuitant. At this point the contract will terminate and the remainder of the fund accumulated is forfeited unless there are other annuitants or beneficiaries in the contract. Thus a life annuity is a fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steve Heretick
Stephen Edward Heretick (born May 29, 1960) is an American politician of the Democratic Party. Heretick represented the 79th district of the Virginia House of Delegates, which includes parts of the cities of Portsmouth and Norfolk, after defeating longtime incumbent Delegate Johnny Joannou in the 2015 Democratic primary. He previously served on the Portsmouth City Council from 2004 to 2012. Heretick was defeated in the 2021 Democratic primary by Nadarius Clark Nadarius Clark (born 1995) is an American activist and politician who has served as delegate for the 84th district of the Virginia House of Delegates since 2023, and formerly the 79th district from 2022 to 2023. Clark, a Democrat, defeated incu .... Electoral history 2001 2007 2015 References External linksCampaign website [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securitization
Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans, or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs). Investors are repaid from the principal and interest cash flows collected from the underlying debt and redistributed through the capital structure of the new financing. Securities backed by mortgage receivables are called mortgage-backed securities (MBS), while those backed by other types of receivables are asset-backed securities (ABS). The granularity of pools of securitized assets can mitigate the credit risk of individual borrowers. Unlike general corporate debt, the credit quality of securitized debt is non- stationary due to changes in volatility that are time ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JG Wentworth
The J.G. Wentworth Company is an American financial services company that purchases structured settlements, annuities, and lottery payments in exchange for a lump-sum cash settlement. They also offer debt counseling and negotiation services. The company is known for its television advertisements featuring "Mr. Wentworth", and a series featuring performances of a lengthy jingle performed in several styles, including Wagnerian opera singers. History J.G. Wentworth was formed by James D. Delaney and Gary Veloric in 1991 as a merchant bank specializing in transactions in the healthcare industry. In 1992, the company began to purchase New Jersey auto insurance deferrals from claimants who could not afford to wait twelve to eighteen months for their settlements. According to ''Consumer Reports'', as of 2010, J.G. Wentworth customers paid an "effective discount rate" amounting to "9 percent to 15 percent or more"; i.e., customers give up 9–15 percent of their future payments in exc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stephen E
Stephen or Steven is an English given name, first name. It is particularly significant to Christianity, Christians, as it belonged to Saint Stephen ( ), an early disciple and deacon who, according to the Book of Acts, was stoned to death; he is widely regarded as the first martyr (or "protomartyr") of the Christian Church. The name, in both the forms Stephen and Steven, is often shortened to Steve or Stevie (given name), Stevie. In English, the female version of the name is Stephanie. Many surnames are derived from the first name, including Template:Stephen-surname, Stephens, Stevens, Stephenson, and Stevenson, all of which mean "Stephen's (son)". In modern times the name has sometimes been given with intentionally non-standard spelling, such as Stevan or Stevon. A common variant of the name used in English is Stephan (given name), Stephan ( ); related names that have found some currency or significance in English include Stefan (given name), Stefan (pronounced or in English) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Class Action
A class action is a form of lawsuit. Class Action may also refer to: * ''Class Action'' (film), 1991, starring Gene Hackman and Mary Elizabeth Mastrantonio * Class Action (band), a garage house band * "Class Action" (''Teenage Robot''), a 2002 episode of ''My Life as a Teenage Robot'' *''Class Action'', a play by Brad Slaight *''Class Action'', a 2002 book that was the basis for the film '' North Country'' *''Cla$$ Action'', a 2005 novel by Henry Denker {{Disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lump Sum
A lump sum is a single payment of money, as opposed to a series of payments made over time (such as an annuity). The United States Department of Housing and Urban Development distinguishes between " price analysis" and " cost analysis" by whether the decision maker compares lump sum amounts, or subjects contract prices to an itemized cost breakdown. In 1911, American union leaders including Samuel Gompers of the American Federation of Labor expressed opposition to lump sums being awarded to their members pursuant to a new workers compensation law by saying that when they received lump sums rather than periodic payments, the risk of them squandering the money was greater. ''The Financial Times'' reported in July 2011 that research by Prudential had found that 79% of polled pensioners in the UK collecting a company or private pension that year took a tax-free lump sum as part of their retirement benefits, as compared to 76% in 2008. Prudential was of the view that for many re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States District Court For The Western District Of Pennsylvania
The United States District Court for the Western District of Pennsylvania (in case citations, W.D. Pa.) is a federal trial court that sits in Pittsburgh, Erie, and Johnstown, Pennsylvania. It is composed of ten judges as authorized by federal law. Appeals from this court are heard by the United States Court of Appeals for the Third Circuit (except for patent claims and claims against the U.S. government under the Tucker Act, which are appealed to the Federal Circuit). History The United States District Court for the District of Pennsylvania was one of the original 13 courts established by the Judiciary Act of 1789, , on September 24, 1789.Asbury Dickens, ''A Synoptical Index to the Laws and Treaties of the United States of America'' (1852), p. 388.U.S. District Courts of Penns ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Washington Post
''The Washington Post'', locally known as ''The'' ''Post'' and, informally, ''WaPo'' or ''WP'', is an American daily newspaper published in Washington, D.C., the national capital. It is the most widely circulated newspaper in the Washington metropolitan area and has a national audience. As of 2023, the ''Post'' had 130,000 print subscribers and 2.5 million digital subscribers, both of which were the List of newspapers in the United States, third-largest among U.S. newspapers after ''The New York Times'' and ''The Wall Street Journal''. The ''Post'' was founded in 1877. In its early years, it went through several owners and struggled both financially and editorially. In 1933, financier Eugene Meyer (financier), Eugene Meyer purchased it out of bankruptcy and revived its health and reputation; this work was continued by his successors Katharine Graham, Katharine and Phil Graham, Meyer's daughter and son-in-law, respectively, who bought out several rival publications. The ''Post ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
