Fixed or Variable Annuity A Fixed Annuity establishes a fixed amount of growth, by interest rate, and is not participating in the stock market. You can establish either an Immediate Annuity which commences payout immediately, or a Deferred Fixed Annuity that will take advantage of fund growth prior to distribution. A Variable Annuity is a long-term investment vehicle that may fit into your overall investment strategy. Variable annuities offer several unique benefits… Faster investment growth today (TAX DEFERRAL)* Income you cannot outlive (LIFETIME INCOME). Stock market participation (EQUITY INVESTING). *Tax-qualified accounts, including IRAs, TSAs and employer-sponsored plans like 401(k)s can also provide the advantages of tax deferral. Variable annuities duplicate this feature. However, for an additional charge, variable annuities provide features such as death benefits, optional living benefits and annuity payout alternatives. ELIGIBILITY: Must include employees who are at least 21 years old, have completed 1 year of service (at least 1,000 hours). Employer may set less restrictive eligibility standards. Automatically excludes Union employees and non-resident aliens. Note: Investment performance is not guaranteed. Withdrawals of taxable amounts are subject to income tax and, if made before age 59-1/2, may be subject to a 10% Federal income tax penalty. Withdrawals will reduce the guaranteed benefits and account value. Always check with your tax advisor before investing or making withdrawals. Return to Investments page