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How exactly does annuity payment work with Powerball?

Topic closed. 2 replies. Last post 4 years ago by redhot7.

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redhot7's avatar - SetforLifeLogo
California
United States
Member #112364
June 17, 2011
661 Posts
Offline
Posted: April 8, 2013, 12:06 pm - IP Logged

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         3.8%
14         3.9%
15         4.0%
16         4.1%
17         4.2%
18         4.3%
19         4.4%
20         4.5%
21         4.6%
22         4.7%
23         4.8%
24         4.9%
25         5.0%
26         5.1%
Total  100.0%

How does the graduated payment work with the Powerball?


    United States
    Member #130815
    July 25, 2012
    1636 Posts
    Offline
    Posted: April 8, 2013, 12:36 pm - IP Logged

    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         3.8%
    14         3.9%
    15         4.0%
    16         4.1%
    17         4.2%
    18         4.3%
    19         4.4%
    20         4.5%
    21         4.6%
    22         4.7%
    23         4.8%
    24         4.9%
    25         5.0%
    26         5.1%
    Total  100.0%

    How does the graduated payment work with the Powerball?

    Check out that Usa mega that advertises on here they have a great jackpot analysis that goes state be state and breaks down each years taxes and amount after tax

      redhot7's avatar - SetforLifeLogo
      California
      United States
      Member #112364
      June 17, 2011
      661 Posts
      Offline
      Posted: April 8, 2013, 8:51 pm - IP Logged

      Check out that Usa mega that advertises on here they have a great jackpot analysis that goes state be state and breaks down each years taxes and amount after tax

      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.