There is currently an excess of $34 million in the annuity fund, which by law cannot be paid to the union's members.
Help in Their Lives Each sponsor deposits at least $300,000 into annuity funds operated by the foundation.
Finkel had set him up with an annuity fund that provides him with $100,000 a year for life.
Helen Patton, 88 and a widow, said she had put almost $30,000 in a variable annuity fund.
Mrs. Marquis learned that there was no annuity fund in her name.
The tort victim could not be seen to have "constructive receipt" of the annuity funds prior to their periodic payments.
The city would also provide other financial benefits, including a $500, lump-sum contribution to each firefighter's annuity fund.
He was afterwards for many years collector and magistrate at Rajahmundry until his retirement on the annuity fund in 1859.
Insurance companies invest annuity funds and make a margin on their investments.
Officers on the payroll through 1992 would also receive a $4,000 payment in cash and a lump sum of $800 for annuity funds.