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tax-deferred annuity

[taks-di-furd]

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noun

an annuity that enables one to purchase an insurance product that will earn interest, with the tax obligation deferred until withdrawals begin, usually at retirement. Abbreviation: TDA

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Based on the Random House Dictionary, © Random House, Inc. 2012.
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tax-deferred annuity

tax-de·ferred annu·ity