Final answer:
The question is about a Joint Annuity distribution option where the survivor receives 100% of the annuity payments after the other annuitant passes away. Annuities are important for retirement planning, providing a consistent income stream to retirees. The use of 'quintiles' and 'cumulative income' suggests a broader discussion on income distribution, but these terms do not directly relate to the joint annuity question.
Step-by-step explanation:
The student's question pertains to Joint Annuity payout options, specifically the 100% to survivor option. This refers to an annuity that continues to make payments to a surviving spouse or partner at the same rate as when both annuitants were alive. It is relevant in the context of personal finance and retirement planning, where understanding distribution options of retirement benefits is crucial.
An annuity is a financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees. In a Joint Annuity - 100% to Survivor setup, when one of the annuitants dies, the survivor continues to receive 100% of the annuity payment for the rest of their life. This is opposed to other joint annuity options that may decrease the payment amount after the death of one annuitant.
The mention of quintiles and cumulative income pertains to the distribution of income within a population, where the final entry must be 100% as it represents the total income received by the entire population. This specific part may be a reference to analyzing income distribution, which is a different concept from joint annuities, but it showcases the student's broader inquiry into financial and statistical distributions.