How exactly does annuity payment work with Powerball?

Reply #2

redhot7 — Tue, 09 Apr 2013 00:51:52 GMT

Thanks. It looks like the first PB payment is approximately 1.78301% of the jackpot. The next payment equals the first payment + 4% of the first payment. The next payment after that equals the previous payment + 4% of the previous payment and so on and so forth.

The payment structure sounds more complicated than CA Super Lotto Plus.

Reply #1

billionaire2bee — Mon, 08 Apr 2013 16:36:51 GMT

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How exactly does annuity payment work with Powerball?

redhot7 — Mon, 08 Apr 2013 16:06:05 GMT

With CA SuperLotto Plus, winners will receive 26 graduated payments. Starting from the first year with 2.5% of the jackpot prize, then 2.7% the following year, then 2.8% the following year after that. From there, winners will receive payments with an increment of 0.1% each year. All payments will add up to 100% on the 26th payment.

Year Percent of Prize

01 2.5%

02 2.7%

03 2.8%

04 2.9%

05 3.0%

06 3.1%

07 3.2%

08 3.3%

09 3.4%

10 3.5%

11 3.6%

12 3.7%

13