Glossary -
Definition of Terms
A B C D
E F GH I J K L M N O P Q R S
T U V W X Y Z
Account balance
— The dollar value of your account.
Accumulation
units — Ownership shares in a separate investment
account during the accumulation period of a variable deferred
annuity.
Additions
— Transactions which cause an increase in your account,
including, but not limited to, contributions and loan
repayments.
Adjustments
— Transactions such as account transfers, refunds and
reinstatements.
Allocated
— Invested, as directed, into your account.
Cash value
— The portion of your account balance available to provide
lump-sum cash repayments under the contract.
Contract — See definition of group annuity.
Deductions
— Transactions which cause a reduction in your account,
including, but not limited to, withdrawals, expense charges and
loan disbursements.
Eligibility
provisions — The provisions in a plan outlining the
necessary requirements an employee must meet to become a
participant in the plan.
Forfeiture
reallocations — The nonvested portions of terminated
participants' accounts that are reallocated to the accounts of
the remaining eligible plan participants.
Gains/Losses
— Additions to, and subtractions from, your account
balance that reflect the interest credited to your funds
invested in the interest funds and the amounts of increase and
decrease in the value of your funds invested in the unit trust
funds.
Group annuity — A contract between AUL and
your employer, a plan trustee or a custodian that defines how
invested funds are to be treated.
Interest funds
— Accounts that are part of AUL's general asset account in
which all or a portion of your account balance may be held for
accumulation at fixed rates of interest paid by AUL.
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Payroll
deduction date — The payroll date that coincides with
each contribution to your account.
Plan — A program maintained by an employer
or employee organization that provides the opportunity for
employees to defer income until retirement.
Surrender charge
— A charge applied at the time of a withdrawal from the
contract for deferred unamoritized expenses attributable to that
contract.
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Transaction date
— The date on which a transaction occurs.
Unit trust funds
— Separate accounts of AUL whose assets and liabilities
are maintained separately from those of AUL's general asset
account, in which all or a portion of your account balance may
be held for accumulation through the purchase of units in such
funds.
Unit value — The dollar value of an
accumulation unit, which is the unit of measure used to record
amounts or increases to, decreases from and accumulations in the
unit trust funds.
Vesting
— The acquisition of a nonforfeitable right by an employee
to receive all or part of his or her benefit in a plan if he or
she terminates employment prior to the normal retirement age.
Vesting is subject to plan provisions and assumes that all plan
participation requirements are met.
Weighted average
interest rate — The average interest rate earned by
the fixed fund(s) as it relates to the account value, determined
by weighting the current rate of each bucket with its account
value.
Withdrawal value — The portion of your
account balance available to provide lump-sum cash payments
under the contract.
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