Though other withdrawal options can lengthen the payout period, the idea behind forced withdrawals is still wrong.

The deferred money will not accrue interest until he reaches the payout period, which will run from 2009 through 2024.

Other holders maintain the variable nature of the contract during the payout period, again betting that long-term growth, especially in stocks, will provide a growing return.

Here, the child's age would be counted as 61, yielding a payout period of 25.3 years.

By basing payouts on the joint life expectancy of the account holder and the beneficiary, the payout period can be extended.

For group policies a maximum payout period may apply and the policy will expire if the employee ceases employment with the employer.

In other words, the payout period lasted so long players had time to retire and observe their mandatory five-year waiting period for entry into Cooperstown.

Company-disclosed lump-sum amounts are converted to annual payments assuming a 20-year payout period and a 6 percent interest rate.

At the end of the payout period (i.e., when all the income beneficiaries are dead), the trust "remainder" goes to a designated charity.

They examined payout periods from 15 to 30 years, and withdrawals that stayed level or increased with inflation.