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August 24, 2010

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Kansas Annuity News

Three Samsung Executives Agree to Plead Guilty, Serve Jail Time

Three executives from Samsung Electronics Company Ltd., the world's largest manufacturer of a common computer component called dynamic random access memory (DRAM), have agreed to plead guilty and to serve jail time in the United States for participating in a global conspiracy to fix DRAM prices, the Department of Justice announced.

Four companies and 12 individuals have been charged and fines totaling more than $731 million have resulted from the Department's DRAM investigation. It is the second largest amount of fines ever collected by the Department of Justice from a single price-fixing conspiracy.

Each executive also has agreed to pay a $250,000 fine and to cooperate in the Antitrust Division's ongoing investigation of the DRAM industry. In agreeing to plead guilty, the executives have agreed not to contest the jurisdiction of the United States, so extradition will not be required. The pleas and sentences are subject to the approval of the U.S. District Court in San Francisco.

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Did You Know?

A variable annuity has two phases: an accumulation phase and a payout phase.
During the accumulation phase, you make purchase payments, which you can allocate to a number of investment options. For example, you could designate 40% of your purchase payments to a bond fund, 40% to a U.S. stock fund, and 20% to an international stock fund. The money you have allocated to each mutual fund investment option will increase or decrease over time, depending on the fund's performance.

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	Latest news about Annuity cases in Kansas and nationwide: Three Samsung Execuitives Agree to Plead Guilty, Serve Jail Time Four companies and 12 individuals have been charged and fines totaling more than $731 million have resulted from the Department's DRAM investigatio... Read more > Agent Arrested in Annuity Fraud Scheme Agent Arrested in Annuity Fraud Scheme David Franklyn McMillin, an Austin life insurance agent, has been arrested on charg... Read more > More Annuity News >

Annuity Lawyers.com Terms

Today's Terms

Designation of Beneficiary

Definition:
Notice, signed by you and witnessed by two persons, indicating the person(s) you want to receive your life insurance benefits. The form generally used for life insurance designations is the Designation of Beneficiary form (SF 2823).

Annuity Starting Date

Definition:
For most types of annuities, the first day of the month following either the date after the day you separate from service or the date after your last day in pay, whichever is earlier. If you were in pay status for three days or less in the month of your retirement, the annuity starting date is the date after either the day you separate from service or your last day in pay and in which you meet age and service requirements, whichever is earlier

Annuity, Reduced

Definition:
A retiree's basic annuity that is reduced because of retirement before a certain age (for reasons other than disability). Annuities are also reduced because of unpaid deposits or redeposits, or to provide a survivor annuity. (Also called reduced benefits.)

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Annuity Law Hot Topics

Topics Related to Annuity:

Client Manipulation
Providing False Information
Lying to Auditors
Unauthorized Transactions
Breach of Fiduciary Duty
Broker Embezzlement

Kansas Annuity-Law Attorney

If you live in the following cities and need an Annuity-Law attorney you should contact our Annuity-Law Attorney as soon as possible:

Derby
Dodge City
Emporia
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Hays
Hutchinson
Junction City
Kansas City
Lawrence
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Lenexa

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Manhattan
Newton
Olathe
Overland Park
Pittsburg
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Salina
Shawnee
Topeka
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