In 1993 the CAR fell below the guaranteed annuity rate, thus prompting GAR policyholders to exercise their rights.
2.
Stage two of the acquisition would follow a settlement between Equitable's guaranteed and non-guaranteed annuity policyholders, Halifax said.
3.
It cannot be seriously doubted that the provision for guaranteed annuity rates was a good selling point in the marketing by the Society of the GAR policies.
4.
About 800, 000 people lost money in recent years as Equitable reduced the value of some policies to cover the liabilities from its guaranteed annuity rate policies.
5.
This fund was to be used to enhance terminal bonuses across the company, but was eventually used to compensate guaranteed annuity rate options ( GARs ) holders.
6.
Moynihan said the main difference between his proposals and those of the conservative " privatizers " was that " we retain a guaranteed annuity ."
7.
The seeds of Equitable's troubles date back to the 1970s, when it issued policies that provided a guaranteed annuity rate, regardless of the market interest rate.
8.
The ruling left the 238-year-old Equitable owing at least 1.5 billion pounds ( $ 2.2 billion ), to holders of policies with guaranteed annuities.
9.
The road toward partial privatization, he said, would increase the national debt, force the United States to borrow money from foreign governments to pay its retirees and take away a guaranteed annuity.
10.
The project is a joint venture of the Massachusetts Laborers'Pension Fund and two funds established by the carpenters union _ the Massachusetts State Carpenters Pension Fund and the Massachusetts State Carpenters Guaranteed Annuity Fund.
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